Thursday, 22 July 2010

15:41 BST - SPX Update

Here's another count to consider - that we're in the final [C] wave of a double zig zag up from 1 July. This is more bullish than the count I posted earlier and would probably involve moving above 1099.08. However, its less bullish than the impulse count shown on the chart of Option 3 or the other continuing double zig zag count that I posted at the end of Tuesday night's update:

SPX 1 min chart - in wave [C] of a second zig zag from 1 July: