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techcharter

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techcharter

Re: None

Friday, 01/01/2016 11:15:21 AM

Friday, January 01, 2016 11:15:21 AM

Post# of 51788
Choppy-Toppy

Now that the eggnog has had some time to dissipate, I vaguely remember the light bulb going on in the cranium at yesterday's close.

Trying to figure out e-waves in a choppy market is tough. The market over the last 2 months certainly qualifies as choppy. My preferred wave count for the SPX and NDX since the early November high is Wave 1 down followed by Wave 2 flat, with wave c of Wave 2 being an ending diagonal. wave 5 of the flat should take place and complete next week.

Wait for a breach of 4500 in the NDX and 2005 in the SPX for confirmation of a completed flat. Then we'll know Wave 3 is definitely under way.
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