Monday, November 2, 2009

11/2 - SPX AM UPDATE




This is one potential count I have for now. Minute [i] is in with [ii] beginning today and possibly lasting the the next few days.

Minute [ii] may target anywhere between 38.2 - 61.8% or 1060-1074. I see a top for minute [ii] perhaps by Wednesday on a FOMC rate hike surprise or by Friday on the jobs report. All speculation here of course.

2 comments:

  1. nice charts. things seem to be panning out a little differently, but your counts were certainly valid.

    I like the simplicity of your approach, thanks for posting.

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  2. thx john. ya. it looks like the 1-2s are possibly playing out here.

    however, i still see a possible flat playing out here with 'b' complete at 1029 and maybe 'c' to 1060. and if not,

    1020 will be a level to watch. i'm still thinking minute [i] completes there (since we are all over the map on the count).

    GL to u!

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