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techcharter

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techcharter

Re: None

Wednesday, 01/21/2015 6:07:07 PM

Wednesday, January 21, 2015 6:07:07 PM

Post# of 51776
SPX & INDU possible ending diagonal

From Friday's low to now, there are 4 zig-zags. wave 5 started this afternoon. The ED should end by tomorrow's close.

What does that imply about the larger e-wave count?

A strong downward move to SPX 1990 initially.

Bullish case 1: The ED is actually part of a larger ED challenging all-time highs.

Bullish to Bearish case: The ED is a large degree that is failing to test all-time highs. Sharp drop to SPX 1850 over the next 2-3 weeks. I prefer this count because it is the most synchronized with the German e-wave count.

Bearish case: The ED is wave c of wave 2 flat that started in early January 2015. No precise target, other than wave 3 will be more than 160 points (Fibonacci ratio with wave 1 that started at all-time highs.
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