Friday, November 26, 2010

SPX Daily - Friday, Nov 26

@ 1 PM

Looks like we terminated minuette ii  in Wednesday's session itself.  The 11 wave triple three corrrective pattern has completed. I still have it labeled as a minuette ii, but it may turn out to be a subminuette (iv) after all. Had the thrust up pinned through 1204, subminuette (iv) option would have been convincingly eliminated. While the size makes it look like a minuette ii, the sideways WYZ pattern is more characteristic of  a fourth wave. As a possible wave 2, it has also fallen short of even the 50% retracement, 61.8% is more likely for a wave 2.

And subminuette (iv) is a zigzag, that is more characteristic of a wave 2. Will keep an open mind about having to revert to the original count.

What develops next will provide confirmation for either of the two interpretations. The higher degree charts have been updated for the week.


Here is a watered down chart of the alternate, the original count.

Have A Great Wekeend !!

2 comments:

  1. Hi Vega -- I've noticed that when you have commented over at danerics site...that we are generally on the same page with respect to counts etc. I was wondering how much you short-term (daytrade) trade the markets?

    -- JeffreyGTC
    http://jeffreygtc.blogspot.com/

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  2. We are both looking to start with a five motive's down. I am looking for a minor C of Intermediate of B of Primary 2. You are starting to count a Primary 3 down. I was in the P3 camp until mid Sept, when I started counting myself and fired STU.

    Congratulations on starting your blog. Itz a great way to chronicle/journal your own wave counts.

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