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S&P 500
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techcharter

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techcharter

Re: None

Tuesday, 05/27/2008 7:21:18 PM

Tuesday, May 27, 2008 7:21:18 PM

Post# of 51820
Getting Shanghai'd - Ewaves

The rally off the April '08 lows looks like a zigzag. This is corrective. My view is it has corrected only part of the Jan '08 selloff. All through May '08 the index sold off in a very choppy move that could be a triangle. This implies 1 more zigzag higher. This would give the index a chance to converge on fibonacci ratios in time (3 to 2) and price ( 1 to .382 or .5)

http://stockcharts.com/h-sc/ui?s=$SSEC&p=D&yr=0&mn=10&dy=0&id=p80097074449
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