SPX daily update
Monday, April 20, 2009

Today SPX had a good sell off but tomorrow i expected one small correction and maybe test the 50 % of Fibonacci retracement. Nevertheless, i'm not sure if this wave "iii" already finished.

Today SPX had a good sell off but tomorrow i expected one small correction and maybe test the 50 % of Fibonacci retracement. Nevertheless, i'm not sure if this wave "iii" already finished.

The wedge was broken and the new wave (ii) began.

The wedge was broken and i can see a possible impulsive count.
Last friday i didn't do any update cause i expected the new trend confirmation. This don't happen but my last charts are still valid. So this new wave (ii) maybe will began on monday, but first it's possible news residual highs (not sure). My stop is on 885 points.
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To early to understand if SPX made the top today, but i don't be suprise if will do (residual) new highs. DAX have similar count.

No suprises until now. So i expected new highs and then a good sell off.
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