Thursday, 7 October 2010

20:07 BST - SPX Update - wave v of (v) up?

Here's what I'm looking at on the near term bullish count where today's low was wave iv of (v). Unless we take out 1151.41 without a new high, this count remains on the table (wave [1] may have topped at 1158.50):

SPX 1 min - still in wave v of (v):

Note that on the immediately bearish count, 5 waves up from today's low could be wave (C) in a running or expanded flat for wave [2]  -  I mentioned  that as a possibility in the last post.