Wednesday, April 11, 2012

4/12/12 - EOD Update

Late night post for me.

Here's a bull / bear count I have going. Please see the 2 year bull / bear charts below for perspective as to how this 15 min count would fit in.

SPX - Bull Option
Either a [b] wave bounce for Minor 4 is in progress or minute [5] is underway. Note that Minor 4 can take on a few patterns; flat, tri or zigzag.

SPX - Bear Option 
If minute [1] is complete, this bounce is minute [2] underway. Once minute [2] is complete, a minute [3] targeting the 1340 - 1300 area would make sense.

The bigger picture.

Something to keep in mind if the Dr can still predict. For those who had seen this count, I was tracking a wave iv triangle which broke down. I then began to track a potential flat for iv (didn't get a chance to post tho), however, there has been a slight iv-i overlap so this count is most likely out.

So we need to keep an eye on copper here or a more bullish triple nested 1-2 up is in progress. I'm not too sure about triple nested 1-2 though.
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