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Monday 12 July 2010

18:38 BST - SPX Update

We've possibly had an impulse down from today's high (on my labelling, wave 3 is about 1.618 x 1 and 5 is about 2.618 x 1):

SPX 1 min - ending diagonal complete at 1080.78:


Obviously, today's high is the invalidation point.

If we take out the high, this ending diagonal may be the one in play:

SPX 1 min - ending diagonal from 1039.91:



Wave [5] has to stay below 1092.99 to be shorter than wave [3].