Monday, 1 November 2010

13:59 GMT - SPX Update

The main bearish count shown in Friday's end of day update was invalidate so the alternate comes into play, with the invalidation point at 1196.14:

SPX 1 min bear count:
On the bullish count, we may be completing wave [D] of the trinagle wave iv (or (iv)). If we exceed 1196.14, its likely we completed the triangle at the low labelled wave (B) of [D] (or possibly at the low of 1177.10 and have started the next leg up:

SPX 1 min bullish count: