Thursday, October 29, 2009

10/29 - SPX: 1-2s


Here's a quick chart on the SPX with the bearish alternate count. Say wave 2 is tracing out now and it wants to move higher, it appears 1075-1084 may be an appealing target range.

Wave 2 would be contained within the 61.8 - 78.6 retracement levels. Plus there is a gap that may need to be filled.

Just something to think about.

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