Thursday, 28 October 2010

17:55 BST - SPX Update on the bearish count

Here's an update for the bearish count posted earlier (I've upped the degrees by one):

SPX 1 min - bearish count:

For the main count, wave 2 must stay below 1189.53. If we take that out then I'll be left with the count for 5 waves down from 1196.14 shown on Chart 2 of yesterday's end of day update.

If the alternative count is playing out, we have to stay below the wave 2 high at 1183.53 in wave ii.