Tuesday, November 23, 2010

SPX Daily - Tuesday, Nov 23

@ 4 PM

If that is indeed a 4th wave triangle it is almost complete with the wave E right on the upper line. May be a fifth wave down tomorrow to complete subminuette (v) & minuette i.


@ 3:30 PM

I think I see a possible triangle forming in the 4th wave position.


@ 3 PM

It's tricky to decipher if this is a micro (iv) or submicro (ii). If the sideways movement continues it is more likely to be a 4th wave. If the low of the day is breached soon it is more likely to be a 2nd wave. Also 5th waves are rogue waves and can truncate above the 3rd wave. So a reversal from here as a subminuette wave 2 cannot be ruled out.


@ 12 Noon

The subwaves of micro (iii) not very clear at this time.

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