Friday, 20 August 2010

15:05 BST SPX Update: 1 min chart - Retracement levels in case we've hit a low for wave [1]

As you can see from my previous chart, I think there are enough squiggles between waves (4) and (5) on my labelling to mark a wave [1] low. Taking out today's low will invalidate that labelling, but just in case, here are the retracement levels to watch:

SPX 1 min from 1129.24 high: