Wednesday, December 1, 2010

SPX Daily - Wednesday, Dec 1

@ 4 PM

The .618 retracement @ 1207 is a pretty good indicator of wave ii. It can still go higher, but it has now eliminated the alternate count of this sideways correction being subminuette (iv).

Itz best not to split hairs on the subwave count of the minuette (ii). I will just leave it labeled as a WXY triple three correction.


The Minuette & Minute charts have been updated as well.
Also here is a 2 minute chart, counting today's rocket booster.


@ 12 Noon

We finally got the .618 retracement for a possible minuette (ii)  !!

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