Monday, September 12, 2011

SPX Daily - Monday, Sep 12

@ 4 PM

Perhaps a flat on the SPX as the last triple in this combination correction, and an expanded flat on the DOW.

Per Elliott this should be the last leg up of this correction. This more than a month long sideways correction has certainly caused fatigue and derailed plenty of counts.


@ 12 Noon

Selling still does not look "impulsive".
Wondering if the final triple may be more flat than a zigzag.
The DOW breached it's Sep 6 low, which is more flat than a zigzag.



@ 11 AM

Still a lot of ambiguity in the wave structure, even though the economic and financial reality continues to worsen significantly.

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