Tuesday, 28 September 2010

16:44 BST - SPX Update: (1)-(2) down from 1149.92? Jury's still out

Its a much deeper retracement than I would have liked for this wave - 78.6%. The way I've labelled it, Y=W. If its wave (2) in a new downtrend, then it needs to start falling now or there's a clear risk that we're going to take out yesterday's high and invalidate the labelled count:

SPX 1 min - (1)-(2) down from 1149.92?: