SPX monday daily update
Monday, July 27, 2009
Hello there. My favorite count puts blue 5 ending in near 1000 points, as you can see in one of the charts.
On the other side, I have some doubts looking at the 10 min chart. I can see some impulsive movement that I should not be able to see. For that reason, I made an alternative count that brings the extended blue wave 5 scenario to the table.
My favorite count still is the one of the ending diagonal, since i don't trust 10 min time frame for Elliot wave counting. I use it to confirm my count but that wont happened today.
Charts today are from 4 hour CFD's. My provider is having some problems with the cash ones.
Lets see how this thing plays out.
Best to your trading
PH
