Wednesday, 18 August 2010

14:40 BST - SPX Update - 1 min close up

The possibility that we were in wave (4) of [C] of ii, with wave (5) still to come has been eliminated with the drop below 1089.05. However, there is still the double zig zag possibility I mentioned earlier and the bullish counts - see last night's end of day update and my earlier post of the 60 min chart for levels to watch to invalidate these:

SPX 1 min close up: