Well george, this could be wave 3 of 3 of 3, hard to say, but
yesterday's bounce looks like a minor wave 2.
Notice how 60 period stochastics stopped right at 50%! I
always watch for that and of course we'll just have to see how this
ave count plays out, on the flip side, for GDX the 60 period
stochastics got above 50% yesterday afternoon which was a bullish
sign
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S&P 500 15 min chart.png Well george,
poss reversal
Posted by matt on 17th of Sep 2008 at 11:03 am
Well george, this could be wave 3 of 3 of 3, hard to say, but yesterday's bounce looks like a minor wave 2.
Notice how 60 period stochastics stopped right at 50%! I always watch for that and of course we'll just have to see how this ave count plays out, on the flip side, for GDX the 60 period stochastics got above 50% yesterday afternoon which was a bullish sign