Friday, January 22, 2010

1/21 - SPX BEARISH FORECAST






Keep in mind I do have a bullish count, however the second chart is my primary and preferred count. I know I just provided a similar count on the previous post, but I wanted to isolate this count here.

I updated the bearish labels on the second chart and I think it goes well with the larger (imaginative) count that I have. The smaller degree count potential, coupled with an 1130 resistance level, a 61.8% Fib retrace level and an ascending trendline resistance level supports this potential market path.

Tomorrow will be interesting!

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