Tuesday, September 8, 2009

SPX 9/8 PM Update-




I hope everyone had a nice weekend.

I had no time today to count waves. Nevertheless, I think these two charts speaks volumes. That is one bearish wedge.

1039 and 978 (probably can move this up to 992 as well) are the two levels I am still watching. But I will say, even a break of 1039 may not mean that much at all if this pattern holds.

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