Monday, March 15, 2010

3/15/10 - DOW AM Update

What's the DOW telling us? There is certainly a nice looking wedge developing, which would be fitting for a Minor wave C to complete this counter trend rally off the March 2009 low.

The question remains whether minute [v] of Minor C is in. If this move is complete, it would fit well with my Option A count (top in at 1154) on the SPX.

Or if a final minute [v] throw-over is required, that may also fit in well with my argument for 1180 on the SPX, my Option B count.

We have trendlines and levels to break first to confirm that the top is in. Let's see what we get today and reassess at the end of the day.


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