Sunday, January 8, 2012

I was out of town since Thursday and forgot to post that here. Anyway, just took a quick look of the counts and updated my primary and alternate count since last Wednesday.

SPX - Primary
This count is sort of getting out of proportion so the green alternate may work very well here. Price continues to respect the up channel so we'll see if it holds early next week.

Pattern-wise it certainly looks like an ascending triangle so lets see if it breaks to the upside.

SPX - Alternate
SPX- ED Option
I still like this option especially if 1282-1292 continue to provide resistance. Wave (iii) = (i) at 1210.76. So if this is an ED, wave (iii) cannot exceed this level.
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