Wednesday, March 21, 2012

3/21/12 - EOD Update [8:45 PM Update]

[8:45 PM Update]

SPX - 10 Min 
Adding a 10 min chart to show the H/S target potential along with the larger Fib extension targets for 3/c.

[7:43 PM Update]

SPX - 5 min

My 5 min chart. Lets see if wave iii/c down starts tomorrow if it hasn't already started into the close. If there is a quick little bounce tomorrow, it may just be wave e completing for wave b of the triangle.

If this is a triangle, it cannot be a wave 2 and it doesn't qualify as a flat in its current state.

Lets keep an eye on the Fib extension targets. The bears need to break 1/a decisively if something more bearish is playing out.

Note the bullish alternate too.

EOD Update

Watch that triangle.
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