Wednesday, June 1, 2011

SPX Daily - Wednesday, Jun 1

@ 4 PM

Two interesting days in a row, after a month long wedge!!

Due to what happened in the DOW today, the current count is in limbo. The recount would look like this. Minute 4 was not done just yet.

The subwaves don't count very well. But we can only count what the market gives us.

This is how SPX & COMPX closed.

@ 3:30 PM
DOW just breached it's Minute 4 low of 12,309 by dropping to 12,306.
Though NDX, COMPX, RUT, NYSE holding much better.

@ 1 PM

61.8% retracement is better than 50%.

@ 11 AM

The 50% retracement looks like a good wave ii.

1 comment:

  1. damn it's rough out there today - i swear i'll never go long again! LOL