Monday, March 30, 2009
I changed a little the mayor wave 1 to put the minor wave "e" on the struture of this wave. I short term, SPX is doing the wave "a" that can be finished in the 770's, to close the last gap. After this, i expected one corrective wave (wave "b") followed by another pullback that can finished between the 50 and 62 % of Fibonacci retracement. This area is an important support for SPX and i expect some rebound after this test.