Monday, May 9, 2011

SPX Daily - Monday , May 9

@ 4 PM

@ 1 PM 
The Minor 5 count on DOW is slightly different from that on the SPX. DOW has an impulsive 5-wave sturcture, where as SPX has an ending diagonal in our higher degree counts.

The Minute 5 on SPX , we cannot be sure if it will be an abc or a 5-wave. Also it can overshoot or undershoot the channel.

However on the DOW, it will be an impulsive 5-wave structure. Although it may still truncate.

Will have to keep a close eye on both.

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