Monday, 27 September 2010

17:24 BST - SPX Update: (1)-(2)-1-2 down from 1148.90?

Referring to my earlier post, we managed to stay below 1148.90 and appear to have made another 5 waves down:

SPX 1 min - top of 5 waves from August lows?:

However, there's a high risk that 1148.90 was only [3] of v and that what we've seen since is [4] of v, as mentioned in the last post. Until we see something convincingly impulsive to the downside, I think this risk remains.