1110-1111 (+/- 5 pts) is looking better and better as a pretty good target for this correction up to end. One more Fib confluence to add. (v) = (i) at the same intersection.
However, if we pullback below 1086.75, the odds are greater that this correction up is over.
[2/3/10 : 4:50 AM Update]
I added an EW channel to project for (iv) of C. 1100 looks like a nice landing spot on the lower channel line. A final (v) would land nicely at the top of the channel, which intersects with the fan, arc and 50% retracement level approximately.
The 1110 (+/- 5 points) zone does appear to be an area of interest.
GL today!
Just playing around with Fibonacci arcs, fans and retracements. Coupled with the counts, the intersection of all three make for an interesting end to minute [ii] eh? I guess we'll have to see tomorrow!
Just discovered your blog. That is a very interesting count, and jives with what I am seeing in the RUT.
ReplyDeleteI have an alternative up at http://blankfiendsew.blogspot.com/ which puts us a little less far along - just finishing (a) of [ii] in the SPX.
One issue with the way you have your (4) of iii of (iii) of [i] is that it does NOT work on the NYSE. That (4) would overlap (1) of iii on NYSE ($NYA).
ReplyDeleteBlankfiend. Thank you for visiting and the feedback. I like your count for SPX btw. I had played around with the expanding diagonal before but gave up on it. I like it.
ReplyDelete