Wednesday, August 26, 2009

SPX- MINOR B EXPANDED FLAT



UPDATE 8-26

A mistake has been pointed out to me with the labels on this count. Since I re-use the charts and move labels around, I completely forgot to remove the Minuette waves labeled (i)-(v). This should be labeled as an a-b-c, which I believe I can do. I won't change this chart now until I see more confirming action in the market.

Let's just say right now there may be a Leading Diagonal forming off the 1037 high(this is assuming I change my count and make that high the top for [v]) from yesterday.
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This would be considered an alternate count that I would have for the current structure. MINOR B is not complete and we are working on an expanded flat.

One problem with this count is that Minute [B] is 1.50 x [A]. Per EWP guidelines, Minute [B] is typically no more than 1.38 x [A]. So it is not by much and it is more a guideline vs a rule so this may still hold as a potential alternate.

4 comments:

  1. IS IT GOING TO BE TODAY?
    DREADFULL P3 WILL TRIGGER???
    I AM GOING TO SHORT THE MARKET WITH THE LAST CENTS I HAVE.....

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  2. ohmy!!!
    it is happening again... but i will keep my shorts, because keeny, dan and ewi will take me to gaminedes!!
    i have faith!!
    i am a beliver!!!

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  3. This comment has been removed by the author.

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