Tuesday, 9 November 2010

15:55 GMT - SPX Update

Here's an update of Chart 3 from yesterday's end of day update:

SPX 1 min close up:

You can see the slightly bigger picture for this chart on Charts 1 and 2 of that update and the even bigger picture on the 60 min counts page.

The most bearish count survives (just) with an adjustment to make it only a one-two down instead of nested ones and twos. However, we have to take out the low at 1217.55 for this count to have any chance. While we're above that level, the alternative count on the chart above should really be favoured