Monday, 9 August 2010

19:50 BST - SPX Update

OK, no truncated top! But we might be fairly close to a top if 1127.01 was wave 3 of (5) and we are now in wave 5 of (5), as shown as an alternative on this close up of today's action:

SPX 1 min from 1126.03:

However, again, with the trend up, assume more upside to come before we can count a top. Taking out 1124.24 in an assumed wave 4 of (5) increases the chance that the alternate is playing out.