Thursday, October 1, 2009

Dow 9/30 - Running Flat (ii)

I didn't get a chance to post this last night but I was looking at a potential running flat for minuette (ii). Even though the SPX triangle structure appeared very reasonable there were several issues with it, i.e. legs a and b counting as 'fives'.

I believe there were a few instances a while back where we had a similar situation with a structure appearing to be a triangle but failed. This could very well be the case again.

If SPX breaks below 1041, the triangle count will be out.


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