Thursday, December 2, 2010

SPX Daily - Thursday, Dec 2

@ 6 PM

This is the original count. In light of the market action of last two days, this count matches wave personalities much better.

In minuette i : wave (ii) is a zigzag , wave (iii) is extended , wave (iv) is a sideways correction.
Wave (v) is truncated. No overlap between (i) and (iv).

Minuette ii is a sharp zigzag correction, consistent with wave 2 guideline.

@ 4 PM
A very sharp wave 2 retracement.



@ 12 Noon

We are just bumping into the April highs. If the November highs are taken out, this count is dead.
Minuette (ii) is now looking like a sharp wave 2 correction, the way it is suppose to, instead of a sideways correction.

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