Wednesday, November 4, 2009

11/4 - SPX MIDDAY UPDATE

EDIT: Just wanted to post this updated chart since the last one. Looks like a new wave subminuette i down is in progress. I will say for now 1061 is the top of this corrective minute [ii] or a wave '2' of some degree.


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Are we there yet? Looks like subminuette v of minuette (c) of minute [ii] is cooperating thus far. Subminuette iv was just shy of the lower trend channel.

Off the 1061 high I see a potential LD wave 1 lead off on the 1 min chart. I will post this later if it shapes out to be this way.

If the top of this leg is not in yet, I will have to draw out new channel lines based on the new subminuette ii and iv waves (green) of minuette (c). Can't do it now because i have to run. Let's just say 1070s is possibly in the cards.

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