Monday, November 16, 2009

11/16 - SPX Update





Remember this one?



It's pretty obvious this leg up was not a wave 2. I guess back to the drawing board.

Price is still respecting the mid-channel line (red channel) and now may be struggling with the mid-line on the second blue channel.

The third chart speaks for itself.

We are pretty close to the completion of this leg up. Is it just a Minor A of a final Intermediate (Y) or the top? I guess we'll see...

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