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Tuesday 13 July 2010

15:40 BST - SPX Update

Well, the last ending diagonal count was invalidated by the move above 1092.99. So, here's another possible way to count a double zig zag up from the 1 July low:

SPX 1 min chart - double zig zag:


Though I'm showing it as complete, the squiggles allow for a bit more upside, depending on where the labels are put. Wave y will be 2.618 x wave w at about 1101, so that might be where its headed if it hasn't completed at today's high.