SPX daily update

Friday, March 20, 2009

Currently i have two counts that can be valid. Why two different counts? Just because this last downtrend seems more a little correction of this large upside than the beginning of a new trend (see 10 minutes chart). Nevertheless, the inversion trends, sometimes, began with some choppy action. So keep the eyes on the trend chanel and try to understand if the movement is impulsive or corrective. Until now i can only see a simple corrective movement.

Due to this, if SPX made another higher high i will admit that already has began the Primary wave 2. The last chart are the potential trend lines which can stop this "bull(dog)" movement.

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