Friday, March 2, 2012

SPX Daily - Friday, Mar 2

@ 4 PM

With SPX, nothing was resolved today.
DOW only added more ambiguity to the wave structure.

RUT broke to the downside, after trading range bound since Feb 2.
Hard to tell if it is end of the corrective move, before a final leg up.
Or if the Feb 2 high was the top, and this is the start of correction of larger degree.

@ 12 Noon

Market has spent too much time here, making it look less and lees like a wave 2 retracement.
Alternate, another triple in the making off the Feb 29 lows, exceeding the 1378 high.

1 comment:

  1. I'm looking for 1 new high... to complete the E leg of an ED count.

    So maybe that guarantees the top is already in?!