Thursday, 1 July 2010

16:02 BST - SPX Update

Here's the 1 min chart I posted earlier, updated with today's action;

SPX 1 min chart:

We should have at least one more new low today if this is correct. Be aware that it could be wave (5), not wave (3), which would also be the end of wave [5], with the implications I laid out earlier in respect of each Option.

If we take out the 1119.06 low I've marked  before we make a new low, I'd have to assume that there's a hidden wave in there to make 5 down from where I have wave 4 or that that low was the end of wave (3) , we then had a very small wave (4) and the current low was wave (5).