Friday, June 25, 2010

SPX AM UPDATE

SPX - 15 MIN

Here's a different look at that wedge I posted on last night. It may very well count as a larger leading diagonal. Notice the positive divergence with MACD?

The target for [5] looks to be in the 1060 and perhaps 1050s.


SPX - 60 MIN

This is yet another option on the structure that would favor the bulls. This count implies that minuette (ii) is a flat. The bears will have to take out the 1040 low to confirm they are in control. We'll see.
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