Wednesday, March 10, 2010

If P2 Is Still In Progress...


DOW 60 Min ED


SPX 60 Min ED

I'm not sure if I have seen this count out there with the other EW bloggers. I'm still watching this count but should SPX breach 1150.45, I would immediately turn to this count.

Based on this count above, the move off 9835.09 (DOW) and 1044.50 (SPX) is a minor wave C ending diagonal of intermediate (Y) of P2. It appears three subwaves have completed/near completion. I'll be looking for a pullback for wave [iv] before a final 5th works prices higher. Again, this is all assuming that 1150.45 is breached to the upside.


  1. Hey Grand-- after today's action was looking at your longer term SPX again-- am I reading that right that your entire "Z" is a large A-B-C flat? Its interesting that labeling it like that gives you roughly 3 equal periods as well: W (low to "x" low) was 85 days, Y is 82 days, and we're now 88 days into Z (Not that it means anything, but if A=C of Z in terms of time, we're looking at April 21st!). Are you looking at 1165 as a realistic target (A=C), or do you think C extends above 1200? It looks like your ED trendlines probably cross a couple of weeks out from here-- it would be a stretch but 1.618 also looks like it challenges 0.618 retracement from the top... thank you again for your insightful and original postings...

  2. Hi anonymous

    thx for the feedback. you are correct. i am calling wave z a flat. interesting observations on the time.

    i'm thinking C may extend (see 3/11 eod post) and possibly target 1180 but 1165 would work as well.

    thank you for reading and will keep an eye out for that 4/21 date