Wednesday, 8 September 2010

18:07 BST - SPX Update: 1 min close up - Now ot never for the (1)-(2) down

Last chance for the (1)-(2) down from the 1104.58 high - I can see a subdividing wave 5 of (5) up starting to develop:

SPX 1 min close up - (1)-(2) down complete or subdividing wave 5 of (5) of [C] up:

If the (1)-(2) count is to remain valid, its got to drop now, otherwise the alternative labelling showing us currently in wave iii of 5 of (5) up comes into play. If we take out 1099.93 (the low labelled "or 2"), before making a new high, the alternative labelling will look ropey. It'll look even less likely if we drop below 1095.97 (the low labelled "or ii") before making a new high.