Friday, January 28, 2011

SPX Daily - Friday, Jan 28

@ 4 PM
Looks like a pretty strong abc down in progress.
Sideways movement in a triangle to buy time looks very likely for the coming days.
@ 1:30 PM
That was an intense sell off. Could be considered consistent with a 4th wave.
A triangle formation here would be very favorable for our count.

@ 12 Noon
Very tempting to call the top at todays' high.....
But will give it some more time....

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