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Monday, August 24, 2015 6:52:09 PM
SPX 1 hr chart: This chart/fork pattern looks pretty good, the wave ratio noted for "c" down hit a perfect 2.618 ratio and if we take "W" x 1.382 up from todays bottom we hit within 3 points of 2213. However, those indices (INDU, DJA,NYA, NDX, and some smaller indices) that took out last Oct lows are a huge red flag and I haven't been able to make sense out of another possible wave pattern that works. The extreme sentiment indicators, TRIN,TRINQ, TICK 5 min, TICK 15 min, NAMO, NYMO and the indices stochastics are all in extreme OS levels. DAX and CAC hit good possible ending points and I haven't seen any charts that obviously need more down.
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