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techcharter

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techcharter

Re: None

Thursday, 01/29/2015 7:16:34 AM

Thursday, January 29, 2015 7:16:34 AM

Post# of 51782
SPX futures show Flat e-wave

The SPX futures intraday chart shows 3 degrees of waves 1-2 since late Monday night. All the wave 1's overlap. The next degree of wave 1 or wave 3 will NOT overlap the previous degree wave 1. I count a nearly completed wave 2 flat overnight. Flats occur at the beginning or end of the largest move of the wave. This wave 3 that is about to start has the potential to drop more than 100 points (5%) in less than 2 day's time. A move like this would eliminate a bunch of bullish wave counts.

http://www.barchart.com/interactive_charts/futures/ESH5
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