Impulsive waves down but at same time too small for a wave iii. So the bears must be careful. In the last chart looks like an EDT and it's possible SPX test the trend line (885-890 points) again. Later i will show one alternative bull count.
Wednesday, July 8, 2009
SPX intraday update (Part 3)
Impulsive waves down but at same time too small for a wave iii. So the bears must be careful. In the last chart looks like an EDT and it's possible SPX test the trend line (885-890 points) again. Later i will show one alternative bull count.
DAX intraday update (Part 1)
In DAX cash is more difficult to find one flat wave so for now this is my primary count.
SPX daily update
After this day i still have doubts about the better scenario. As i sayed at the afternoon this wave looks more corrective than impulsive so my primary count is the 3-3-5 scenario (flat wave). Despite this the upside is too limited as you can see in the big picture chart.