It appears that wave 'c' of the zigzag is nearly complete and with that B2 blue. SPX was able to close above the neckline today. Will it be able to hold?
I have a feeling we may be heading lower from here once GS releases earnings tomorrow morning and begin wave C2 blue. Nothing has fundamentally changed for the market as a whole except for the fact that Meredith Whitney was bullish on GS short term. I think everyone just needed a reason to be bullish today.
thanks for the alternate count. one question - what would undermine this count?
ReplyDeleteIt looks like that was only wave 3 of C ending right there, but I like your count.
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