SPDR S&P 500 (SPY)

[Footquarters]

ABC up


this isn't elliot waves, basically A to B has to go to a 61.8 retrace of the bottom, which it just completed. it needs to consolidate, which is the C move, when it takes off again breaking the highs the you meausure the A to B leg. That is an ABC up. All new to me, worked with the SPX down move, now to see if it works on the up move.


Noticed the QQQQ and OEX just completed there A to B move, so everything is couched on Mondays move, which should be a consolidation move down.

Again, the 18 EMA is what to watch on the 60 min chart. Break of that and the MAC Daddy, we go down.


If it goes continues up Monday, there will not be one an ABC up. Trin said it was at a Top at the close, so that meant lots of short covering. Going to a water ski Bridal shower for my daughter now, I like the Fl. bridal showers...LOL