Tuesday, 17 August 2010

18:52 BST - SPX Update; 1 min close up with alt count

Following on from my last post, we'll have to see how we pull back now. If we don't drop as if we've started a 3rd wave down, here's another possibility we'll have to bear in mind for more upside on the bearish count - see the alternative labels on this chart:

SPX 1 min close up:

If we take out the high at 1089.05 in the next pullback, which would be wave (4) on this alternative count, this alternative will be invalidated.