Monday, May 10, 2010

5/10/10 - AM Update


It appears SPX mini broke out of the channel and a 61.8% retracement has occurred. The best bear count is that this a wave 2 retrace but i don't like that count since you can't count the move from 1215 (1219 cash) as a five wave impulse down. 

IMHO, we are working on Minor C to new highs. Want a more potential bullish count? See Pug.

GL!

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