SPX intraday update (Part 2)
Monday, August 3, 2009

My bearish wedge still valid. Let's see what "they" will do at the end of the session.

My bearish wedge still valid. Let's see what "they" will do at the end of the session.

I would like too see a bearish wedge at the end of this wave v.

Hard do know if this wave "i" of "c" or "a" or "z" already finished but as i still didn't see any decent impulsive wave since the highs i will considerate SPX is doing the subwave "iv" of "i" or "a".
Today decide showed my point of view of the long and medium term analysis at SP500 (in Portuguese). Hope you like and comment it.
As my appresentation is in Portuguese (pages in english) the principal conclusions are:
- SP500 is doing, since March, the wave ii in this bear market;
- My principal count: SP500 began, since July, wave C of wave ii;
- This wave C of ii may finished between 1160 (c=a) and 1230 points (62 % retracement since the begin of this bear market);
- This wave ii may finished between September and November of 2009.

I don't like these corrective combinations but for now it's my primary count.
Choppy session sugesting SPX is doing some kind of triagle in cfd's and wedge in the cash (for me SPX is still doing the wave iv of v).
Read more...
Today SPX made part of wave v of i or a. I will expect one more higher high, for tomorrow (maybe until 1000-1005), and then the odds suggests the begining of wave ii or b until the 91x's-94x's.
EDIT DAX's CHARTS (cash and cfd's):

Seems it's missing one last wave to finished this first wave "i" or "a". DAX cash needs another higher high so maybe only tomorrow this wave my end.

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Hi there. In the sequence of yesterdays talking, nothing changes thought. Markets were chopping around and no decisive movement was made.
If our count is correct we could have finished blue wave 4 today. A decisive movement is expected tomorrow.
Best to your trading.
PH
PS: Welcome back to your house my friend ;)
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