Friday, 17 September 2010

16:36 BST _ SPX Update - (1)-(2) down following a top?

We  had what looks like 5 down from today's high and what looks like 3 up into the 61.8% retracement level from today's high to today's low - could be a (1)-(2) down:

SPX 1 min - close up:

However, we need to take out 1118.88 to improve the odds of the bear case and a top at today's high, assuming wave [4] is in the right place.