here's a 15 min SPX chart; yesterday's top was a wave 3; wave
3's are easy to tell because the come at the end of strong moves.
Today's move up appears to be some kind of wave 5 which is
something to take note of because wave 5's are ending patterns,
what I don't know is if wave 5 is completely done or not, but it's
something to be aware of. SPX has strong resistance at 1130,
so it's possible that that levels needs to be tested, we'll see,
doesn't have to of course and could just sell down, just keep an
eye on things.
The 89 and 144 stochastics bounced off 80% yesterday, so keep an
eye on those two
SPX 15 min with 4 stochastics
Posted by matt on 3rd of Mar 2010 at 12:50 pm
here's a 15 min SPX chart; yesterday's top was a wave 3; wave 3's are easy to tell because the come at the end of strong moves. Today's move up appears to be some kind of wave 5 which is something to take note of because wave 5's are ending patterns, what I don't know is if wave 5 is completely done or not, but it's something to be aware of. SPX has strong resistance at 1130, so it's possible that that levels needs to be tested, we'll see, doesn't have to of course and could just sell down, just keep an eye on things.
The 89 and 144 stochastics bounced off 80% yesterday, so keep an eye on those two
SPX 15 min chart
for non -members
http://stockcharts.com/c-sc/sc?s=$SPX&p=15&yr=0&mn=0&dy=10&i=p04924441520&a=191967918&r=2009
stoch cross
Posted by rkelman on 3rd of Mar 2010 at 01:26 pm
would you be waiting for all the stoch to cross down or if just one cross