Menu

Wednesday 20 October 2010

15:41 BST - SPX Update on the bullish and bearish counts

Here's a close up of Chart 2 from yesterday's end of day update:

SPX 1 min - bearish count close up:


The 61.8% retracement level is at about 1175. We need to stay below 1185.53 for this count to remain valid.

The alternate count shown in Chart 2 from yesterday's end of day update still stands as a possibility unless we take out 1177.49.

Here's a close up of Chart 3 from yesterday's end of day update:

SPX 1 min close up of the bullish count:



Straightforward here. We just need to stay above 1159.71.