Wednesday, January 4, 2012

1/4/12 - EOD Update

Per the primary, it appears wave 4 grey needed a little more to go. 1269 for the most part held on the selling this AM.

SPX - 15 Min - Primary
Lets see if the market is setting up a iii of v on initial claims tomorrow.  Keeping an eye on the 30 min MACD histos.

Something else I see is a potential flat in the works. Three waves down off yesterday's high and today's bounce looking like a three itself. How it fits into the bigger picture I'm not sure.

Keep in mind the 60 min MACD confirmed a sell signal today and -ve divergence.

SPX - 15 Min - Alternate
Per this count, it appears wave x was in progress off the AM's low.  Not sure if it is complete yet but if it is, the Fib extension target for y=w is at 1262.
blog comments powered by Disqus