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Tuesday, 13 July 2010

16:04 BST - SPX Update

Here's a close up of the chart I posted earlier showing the count from the wave (4) of [A] low at 1058.24:

SPX 1 min chart:



This close up shows the count as incomplete, but what I have as wave (3) could easily be wave (5) and the end of the second zig zag, as labelled in the earlier chart. I think we have to take out the wave (1) of [C] high at 1077.95 without making a new high to invalidate the count shown since wave (4) of [C] can't end below that level.