Friday, 25 June 2010

20:07 BST - SPX Update

Here's a quick update on those bearish counts I posted earlier:

Wave [5] extending:

Still on, but invalidated above 1085.95 (though then it might just be we are completing wave (2) instead of 2).

Expanded flat wave [4]:

That looks back on with the nice push up we've been having. The possibility that we are in wave (2) of [5] is invalidated above 1085.95 and the expanded flat wave [4] becomes the only count on this chart.

Expanded flat wave [2]:

Still on also, but we probably need more of a rally to be able to think this is the right count.

Nested ones and twos:

Still on. The invalidation point for the third set is above 1099.64