In the count shown, SPX is in the 5th wave of a 5 wave move off
the recent low at 1485. Wave-2 being a 5-3-5 and wave-4 a
3-3-5 (Flat). So far, wave-5 doesn't look all that strong, however
could be seeing wave-1 of an extended 5th.
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SPX Futures 5hr Chart
Posted by rixx on 14th of Mar 2013 at 09:40 am
In the count shown, SPX is in the 5th wave of a 5 wave move off the recent low at 1485. Wave-2 being a 5-3-5 and wave-4 a 3-3-5 (Flat). So far, wave-5 doesn't look all that strong, however could be seeing wave-1 of an extended 5th.