Monday, March 8, 2010

3/8/10 - SPX EOD [9:30 PM RUT Update]

Here's an update to that RUT chart I posted last week. I added a few Fib markers in there to highlight some relationships (thanks Blankfiend).

The blue Fibs = wave (Y)=(W)
The green Fibs = wave 3 of the ED. Wave 5 cannot exceed 675 if this ED count is to remain valid.
The red Fibs = wave [a] of 5.

They're all pretty close. In the chart above, the final wave [c] of 5 shows four waves complete. I do not show it but at the micro degree, wave v of [c] of 5 may have completed an ending diagonal today. If so, the top for the RUT may be in if this count is correct.

We'll see tomorrow!

[9:00 PM Update]
Howz this for simple?


Not much to add here tonight since this last post. As I said previously, unless 1150.45 is taken out, we may still be in minute [ii].

Of course one must still mindful of the inverted head and shoulder target as well but let's take it one step at a time first. Let's see if 1150.45 is taken out.


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