Wednesday, August 12, 2009

SPX- 8-12


Here is my stab at counting SPX. I still favor a 1-2 count thus far off the 1018 high. Tomorrow will be telling.

Of course I have not discounted the flat scenario if price peaks near or breaks above 1018.

There was a gap up today through 999. Price most likely will fill that tomorrow. Will it bounce or continue lower to form wave 3 of a new leg down?

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