otherwise here's the 5 min SPX chart, on the morning gap down
the 60 period stochastic quickly go oversold and turned up over
20%.
otherwise the low was basically the 23.6% retracement.
The MACD is now resting on zero and the 60 period stochastics is
above 50%. As far as the wave count hard to say, the bullish
case would have this whole consolidation as some kind of wave 4
with another move to new highs coming.
otherwise here's the 5 min
Posted by matt on 23rd of Sep 2010 at 01:35 pm
otherwise here's the 5 min SPX chart, on the morning gap down the 60 period stochastic quickly go oversold and turned up over 20%.
otherwise the low was basically the 23.6% retracement.
The MACD is now resting on zero and the 60 period stochastics is above 50%. As far as the wave count hard to say, the bullish case would have this whole consolidation as some kind of wave 4 with another move to new highs coming.
SPX 5
Posted by isplat on 23rd of Sep 2010 at 01:53 pm
doesn't this look like one big bull flag?
yes possibly, was thinking the
Posted by matt on 23rd of Sep 2010 at 02:09 pm
yes possibly, was thinking the same thing, we'll see.