Looks like that triangle is breaking out to up side now, or
trying to, anyways.
I mean it doesn't look like a wave 4 to me anymore---time wise
it is longer than 1-3, but who knows.
Seems more likely that 1113-whatever in here is the B wave for
an A wave up from 1084.90... where .618 of that 28.79 pt A wave
takes us to roughly 1120. THAT I can understand.
A big A 'abc' from 1029-1105, a big B from 1105-1084.90 and now
the big C 'abc'.
Someone pointed out to me that there could be one more push into
the 20th for a Gann cycle reversal, 364 days from last years low,
option expiry and all.
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5 min SPX
Posted by perthx on 18th of Nov 2009 at 03:52 pm
Looks like that triangle is breaking out to up side now, or trying to, anyways.
I mean it doesn't look like a wave 4 to me anymore---time wise it is longer than 1-3, but who knows.
Seems more likely that 1113-whatever in here is the B wave for an A wave up from 1084.90... where .618 of that 28.79 pt A wave takes us to roughly 1120. THAT I can understand.
A big A 'abc' from 1029-1105, a big B from 1105-1084.90 and now the big C 'abc'.
Someone pointed out to me that there could be one more push into the 20th for a Gann cycle reversal, 364 days from last years low, option expiry and all.