Tuesday, September 7, 2010

9/7/10

SPX - 15 Min - EOD
On the money so far with that lower channel as projected with the 1-3 trendline (One thing to note, I'll redraw the channel using TOS later. It is a little more accurate than the tool above) . At the close, I added the Fib extension as mentioned earlier. Wave x did not push too much higher after my 11:12 am post so the levels are still the same. 1089 and 1084-85 are the ones to watch tomorrow.

Ok. Gotta run. Maybe I'll post more charts later.

SPX - 15 Min - 11:12 AM
Here it is with the subwaves for 4. I don't show the Fib extensions for y to w but if y=w then =1084 and 1089 if y=.618*w. All that of course assumes x has already completed.

SPX - 15 Min - 10:50 AM
Here's some fine tuning on that 15 min chart.

SPX - 15 Min - 10:05 AM
Here's a 15 min look with some labels.

SPX - 60 Min - 9:47 AM
Here's a look at the hourly. So far the market is finding support at the mid channel line of this leg up along with potential support along the 21 EMA (hourly).

I still say we are in a wave 4 of some degree. Let's see how the week plays out.
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