Wednesday, 25 August 2010

17:51 BST - SPX Update: 1 min close up

Its possible that, assuming this is wave [4] of iii, it ended at 1050.22 (its a 23.6% retracement) - I could count the move up to there from today's low as an (A)-(B)-(C) move (wave (C) would have a big 4th wave). However, for the moment I'm labelling the move up from the low as only part of wave [4]:

SPX 1 min close up:

I'd be doubting this count if we take out 1041.62. If the count is right, we could get to the 38.3% retracement level at about 1055 before wave [4] ends.