Friday, 27 August 2010

17:31 BST - SPX Update: Nearing a top on the main bearish count?

This would be a good place for a top whether its wave (2) of [5] or, as shown below, wave [4] on the main bearish count - you can make out 5 waves up for (C), but of course, there could be more left in that 5th wave. If its wave (2) it doesn't have much room left before invalidating that count (at 1061.45):

SPX 1 min  - wave [4] expanded flat: