SPX intraday update (Part 1)
Tuesday, January 27, 2009

Interesting chanel in futures.

Interesting chanel in futures.
These last days have been, in my opinion, alot confused and complexed. The waves are always intercepted and make the counts very difficult. However, i made two possible counts, but when the market made this kind of movements i prefer stay away and waint to see what happens.
I need more data to understand this last movement but the last count is invalidated.
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I didn't expect this for SPX but if we had a higher high is because we are on wave ii.

As expected, SPX reacted badly to the 93x's. I expected, like DAX, new lows during this week.

Dax is doing some kind of "ending diagonal triangle". So, i expect new lows during this week.
Hard week for the bull and bears with a lot of volatility and uncertainty. I hope next week everything is more clarified. During the weekend i will do my updates.

The count is complicated but i don't believe that wave ii is already finished. So, maybe SPX still in wave iv of principal i doing some kind of triangle.
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