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techcharter

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techcharter

Re: Chuck703VA post# 48394

Monday, 11/02/2015 9:29:01 PM

Monday, November 02, 2015 9:29:01 PM

Post# of 51788
SPX wave 3 extended

The rally off the late September lows looked complete when I made my call, but extensions happen. I think wave 3 finished today with a couple days of wave 4 and 5. Even though wave 3 extended, wave I was the largest, and wave v was the smallest. This is a clear sign of momentum deterioration. Think about how a sine function rolls over as it approaches the crest of its wave.
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