Monday, 28 June 2010

19:23 BST - SPX Update

The count I have that shows a wave [1] bottom at 1074.63 and putting us now in wave [2] up to around 1095 - 1109 (see the Option 4 chart), also may have a triangle in the position of the (B) wave of [2]:

SPX 1 min chart:

If the E wave is correctly placed, we need to stay above that and make a new high for the (C) wave of [2]. If we're still in the E wave, it can't drop below the low of wave C at 1071.45 - that would invalidate the triangle.