Monday, February 15, 2010

2/15 - SPX Count Update

Primary 1


Primary 2


Primary 3


I re-posted the top two charts with the addition of a third. These are my top counts at the moment. Though they are ranked in order, I think they may all have equal weight.

The first chart indicates that a final push for wave 5 of an ending diagonal completes minuette (ii) near 1081. Wave 5 of the ED cannot exceed the green line if this count is to be correct.

The second chart is more bearish since it assumes a series of 1-2s are in the works. I show an ED type count to complete the third 1-2 wave set but it could very well be completing a fourth 1-2 wave set. Either way, a third wave down would be expected very soon if not right away. A break above the orange line eliminates this count.

The third chart considers a move a tad higher to fill the gap above at 1085.16. This count shows that wave y of (ii) is working on a subwave b triangle before a final c wave push towards the Fib targets above at 1087. Notice the Fib confluence at 1087.

0 comments:

Post a Comment