SPX daily update
Tuesday, June 9, 2009
When we have corrective patterns followed with (again) corrective patterns is hard to have a decent count. However i like very much this my last chart :).
Between +-950 and +-922 points SPX in cash made clearly 5 waves so i count this like c of iv of "a" as irregular flat. The spike at the 958 points i prefer to count as the end of wave "a" of X. The typical zig zag since friday i will count as "b" of X. Now the bulls are again in control so i expected new highs very soon however the following patterns are important to confirm my count.
