By EW's maybe the trend at short term (at least) changed with today's lows. However the 107x's area will be also very important for this rally. We still are inside the channel anda below the MA50. Let's see what will happen until the close.
SPX is testing again MA50 (hourly) and since the lows maybe is labelling a triple zig zag. For now I can't count impulsive waves since the lows.
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This weekend my tribute to the "old school" heavy metal bands goes to Celtic Frost!
Celtic Frost is a heavy metal band from Switzerland. They are known for their heavy influence on the extreme metal genres, particularly black metal.The group was first active from 1984 to 1993, and re-formed in 2001.
Their more influential recordings were 1985 "To Mega Therion" (1985) and "Into the Pandemonium" (1987).
These albums were some of the pivotal LPs for underground metal and inducted a new and more varied sound. Celtic Frost, along with Venom and Bathory were pioneers in the underground black metal scene, although Celtic Frost were much more experimental with the addition of classical instruments, operatic female vocals and sampling.
Good weekend to all and don't forget to support this blog making your self as follower!
P.S. During the weekend I will do the SPX charts update with some changes cause these last two days action seems more 4's, 5's and 4's waves (The SPX cash had a perfect channel to the downside and the odds suggest at least one more low for the bear case. For my alternative count (bull case), since the 122x's highs SPX finished today a double zig zag).
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