Friday, July 2, 2010

SPX - EOD

Looks like a possible wave iv triangle. Notice though on the bear count there appears to be a positive MACD divergence. This may be setting up the daily that I have been talking about the past couple of days so it appears to be consistent with a bounce that may be setting up in the near future.


The same situation applies here as well, a wave iv triangle. Notice once again the bull and bear counts are looking at the same situation near term. The difference will be in how high the bounce goes.






That is all for now. Gotta get to work on the BBQ for the weekend!
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