The bounce was from 1912 to 1925 then higher low at 1916 then up
to 1936. This amounts to an a-b-c. There was a pullback and
not a straight move to 1936 which is required for a true symmetry
break. The uptrend was subsequently broken (symmetry breakdown)
followed by a lower high. One must respect any such trigger and the
chart below shows this very clearly.
The bounce was from 1912
SPX Daily
Posted by steve on 10th of Oct 2014 at 11:36 pm
The bounce was from 1912 to 1925 then higher low at 1916 then up to 1936. This amounts to an a-b-c. There was a pullback and not a straight move to 1936 which is required for a true symmetry break. The uptrend was subsequently broken (symmetry breakdown) followed by a lower high. One must respect any such trigger and the chart below shows this very clearly.
Check your prices closely and study the tutorial.
http://stockcharts.com/h-sc/ui?s=$SPX&p=3&b=4&g=0&id=p30116363289&a=275427189&r=1413000186438&cmd=print