Saturday, 21 August 2010

11:08 BST - SPX Update: 60 min counts page updated

I've updated the 60 min counts page - please us the menu tab above or click here.

For the really bearish counts in Options 1, 2 and 3, I've given some potential targets for the very next leg down, once what I'm assuming on these counts is a correction up from the 1063.91 low is complete. 

I've also explained why on Options 1 and 2 we really need to seeing these bear counts playing out now as we would expect, with deep, impulsive down moves. Ideally, I also want to see this under the count in Option 3, but its less pressing on that count  looking solely in terms of time (though it could start to become pressing soon).

On both the bullish and bearish counts, I've shown the channel that I'm watching to try to get an early warning of which of these might be playing out.