Monday, December 7, 2009

12/7 - SPX PM Update



Remember this post? I added Bollinger Bands to the chart and I like how the lower band also collides with the other trendlines near 1080.

In addition to that, the bands are tightening, indicating a large move is about to occur. I would expect that would be down to 1080.

As for the count, I still think this may be a valid count (I consider it an alternate), but more importantly, I believe in the near term we will see 1085 before any new highs are made, if they are made...

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