SPX intraday update (Part 3)
Monday, July 13, 2009

Hard to count these corrective waves. Wainting for bearish signs and patterns.

Hard to count these corrective waves. Wainting for bearish signs and patterns.

Gap up and then in a middle of the day a good sell off (I hope :))



It is very hard to label these waves but i'm still bearish in short time frame.
Since the lows of this morning both indices maybe are doing a bearish wedge. Latter i show my charts for the short term.
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Time to rest and stay with family. Hope everybody also rest and enjoy the weekend.

Still very choppy for wave iii so this is my best count. Until above the 869 this will be my primary count.

Today i stay a little more bearish than yesterday after the markets close. The big picture is still uncertainty but today i will prevail the bear count.
At short term seems for the bear case it's missing wave c to complete this (small) rebound. For the bull case maybe is possible a good rally For now i prefer the bear case.
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