Tuesday, 19 October 2010

17:07 BST - SPX Update on the count for a possible top at 1185.53

If the main labelling on the chart below is correct, we have to take out the B wave low at 1171.84. Doing so won't be conclusive that the main labelling is playing out. We'd really have to take out today's low to gain more confidence in it, followed by the low at 1155.71:

SPX 1 min - possible top at 1185.53:

If the alternate labelling is playing out, we have to stay above 1163.87.