Friday, April 29, 2011

SPX Daily - Friday, Apr 29

@ 4 PM
We can only be cetain we are in Minute 3.
The exact subwave structure will have to wait.
Will end the day with the 30-Minute chart.
@ 3 PM
The SPX made a new high which throws this count into question.
May be one of the corrective waves was a minuette ii, a rather short wave 2.
Also the subminuette (v) extension is looking way too big.
Will wait for more clarity.

@ 2 PM
Squiggling the 1-Minute chart further strengthens my belief in EWP.
Looks like all the subwaves for submicro (v) are in place.

@ 12 Noon
The submicro (v) continues to develop.

1 comment:

  1. today "felt" like the end of a 3 wave. Absolutely no sellers. but definitely not 3 of 3. subdued volume - just a grind higher with a lack of selling. I suppose that's why i'm leaning toward the count where we're near the end of Minute 3. or i suppose the end of Minuette 3. I'll definitely analyze the chart more this weekend.

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