SPX daily update
Wednesday, May 11, 2011
Looks like wave e or v is underway. Expect new highs at short term.
Read more...
A diferent long term view. Mine, not Filipe's. The weekly MACD is still red...
Still a possible H&S trap. Be carefull
we should expect a retrace to 1340 and a "hold" if the H&S is true
good luck
PS: i'll be out till 09/05
we had a "H&S trap".
We need to see 5 waves from 1294 to rule out the truncation 5 or the abc down for a large C (Alternative count in blue).
another alternative (not on this chart) in that a 5 waves up from 1294 will finish C wave for a final Z wave from 1007. This cenario coul bring a "inverted H&S trap".
Good luck
H&S or inverted one?
for now i'll keep the 1-2 count
Good Luck
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