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Tuesday 6 July 2010

18:36 BST SPX Update

Counts quite nicely as 3 waves down so far. On the completed double zig zag count posted earlier, it would be the first 3 waves down in an impulse. On the single zig zag count, it could just be a zig zag for an X wave.

Here's the completed double zig zag count on a 1 min chart:


If we take out 1035.81 on this current rally from the low, which would be wave (4), that invalidates the implse wave count as labelled.