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S&P 500
5,071.63
(
0.02%
)
US TECH 100
16,879.60
(
-0.72%
)
Dow Jones
38,460.92
(
-0.11%
)
Brent Oil
87.22
(
-0.39%
)
Bitcoin
64,052.21
(
-3.55%
)
Post# of 51773
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techcharter

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techcharter

Re: None

Tuesday, 08/11/2015 9:57:46 PM

Tuesday, August 11, 2015 9:57:46 PM

Post# of 51773
SPX at critical point.

The SPX futures chart shows the price contracting since the July 20 high. http://www.barchart.com/interactive_charts/futures/ESU5 This could be a series of waves 1-2 of decreasing degree, or Wave 4 triangle.

In the triangle count, wave e has slightly dropped below the lower edge. If the futures market drops below the 2056 level, wave c will be the smallest, and invalidate the triangle count.

If the futures were to rocket higher before the opening, this would be typical post-triangle thrush behavior.
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