Tuesday, March 30, 2010

3/30/10 - SPX AM Update [9:34 AM PST Update]


**** It has been brought to my attention that the previous versions of the above chart was on linear scale. I have made the correct adustments (very minor) and placed the chart on log scale. *** All other charts are log scale. **** Thanks Kazoom!
[9:34 AM PST Update]


This triangle is shaping up nicely. [B] of (c) is a 62% retrace of [A] and i have (e) of [iv] at [C] =[A]. We'll see!

[7:40 AM PST Update]

This chart assumes minute [iv] is still in progress and that the triangle lines are correct (it all may still be in progress).

The blue lines represent the triangle thrust. The fibs (red) represent the length of minute [i]. Minute [v] would equal .618 [i] near the thrust target.

Just something to keep in mind.



A possible triangle breakout? Maybe but I'm still keeping an eye on the 1180.68 level, which is wave (b). Until that is breached, this triangle is still in the works.

But don't forget that Ending Diagonal option as well (second chart).

GL!

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