Since the SPX has yet to THRUST down it may be still in the
process of forming with wave 'd' being a complex wave. ES
(SPX futures have support around 1098-1102) so watching to see if
that holds. Add about 3 points for SPX cash.
Notice that ABC were all simple zig zag patterns - normally
triangles will have at least one complex wave.
SPX 10 (triangle may still be forming)
Posted by steve on 7th of May 2010 at 03:08 pm
http://stockcharts.com/h-sc/ui?s=$SPX&p=10&yr=0&mn=0&dy=3&id=p39703843336&a=157796568&listNum=61
Since the SPX has yet to THRUST down it may be still in the process of forming with wave 'd' being a complex wave. ES (SPX futures have support around 1098-1102) so watching to see if that holds. Add about 3 points for SPX cash.
Notice that ABC were all simple zig zag patterns - normally triangles will have at least one complex wave.
where is the first target
Posted by rkelman on 7th of May 2010 at 03:14 pm
where is the first target now that it broke the triangle
See my post below with
Posted by steve on 7th of May 2010 at 03:15 pm
See my post below with some price support levels. Right around here is support.
Very timely comment Steve
Posted by lsherrer on 7th of May 2010 at 03:21 pm
Thanks!