Fwiw, I am going to assume this wave down from SPX 1119 will be
a 5 wave deal....SO I am thinking wave 3 of 3 was from 1112.48 to
1096.65 making this bounce a wave 4...targets .50 bounce to 1104.56
and .618 bounce to 1106.43.
Sure it is a guess but we could see an ABC that has c= .618a at
1104.95 so that is close enough to the 50% too.
However, the SPX has been running stronger than the Dow all day.
Something to watch I guess.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
SPX 1
Posted by steve on 4th of Dec 2009 at 12:26 pm
SPY 1 min and weekly - very similar
Posted by safadig on 4th of Dec 2009 at 01:35 pm
lol they call that fractal!
Posted by matt on 4th of Dec 2009 at 01:40 pm
lol they call that fractal! that's the basis of EW, you see the same pattern and count repeat on ever larger and ever smaller time frames
If the 1 minute is
Posted by safadig on 4th of Dec 2009 at 01:54 pm
If the 1 minute is telling us the future..then we are heading down!
nah gonna be a 5 wave down....
Posted by perthx on 4th of Dec 2009 at 12:40 pm
Fwiw, I am going to assume this wave down from SPX 1119 will be a 5 wave deal....SO I am thinking wave 3 of 3 was from 1112.48 to 1096.65 making this bounce a wave 4...targets .50 bounce to 1104.56 and .618 bounce to 1106.43.
Sure it is a guess but we could see an ABC that has c= .618a at 1104.95 so that is close enough to the 50% too.
However, the SPX has been running stronger than the Dow all day. Something to watch I guess.