Monday, May 2, 2011

SPX Daily - Monday, May 2

@ 4 PM
The move down today, looks like it could be the minuette iv.

@ 12 Noon

The sequence of impulsive and corrective waves can be identified clearly.
But significant uncertainty remains over the exact degree of waves...

Once market gives a clear minuette iv size correction, the degrees of the subwaves can be fixed.


Posted by Vega at 1:00 PM

2 comments:

  1. JeffreyGTCMay 2, 2011 at 1:24 PM

    Vega - I see 5 waves down more clearly on the futures.

    http://jeffreygtc.blogspot.com/2011/05/monday-may-2nd.html

    Could be leg A of 4?

    ReplyDelete
  2. JeffreyGTCMay 3, 2011 at 8:30 AM

    i've got an unorthodox count that is looking for a 5 wave decline...i've got the 3 wave low today at 1355.11 .... 5th wave would take us below there by a few more points.

    http://jeffreygtc.blogspot.com/2011/05/tuesday-may-3rd.html

    ReplyDelete

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