Short Term Trading Member Forum

[techcharter]

SPX wave 2 Flat done.

I mainly look at intraday charts when trying to figure out e-wave counts. This morning I looked at the charts for the SPX e-mini future (ticker: ESH9). Boy, did the wave count jump out at me!!! It really revealed questionable wave structures. The flat was where it was at It looks like two smaller degree 1-2's of a larger wave 3 occurred today. A 40+ point drop is on the table tomorrow, and much more downside next week.

The alternate count is flat wave c is and ending diagonal and will chew up couple more days in a choppy advance.

http://charts.barchart.com/chart.asp?sym=esh9&data=Z60&date=051406&den=HIGH&divd=Y&evnt=ADV&grid=Y&jav=ADV&size=D&sky=Y&sly=N&vol=Y&late=Y&ch1=011&arga=&argb=&argc=&ov1=&argd=&arge=&argf=&ch2=&argg=&argh=&argi=&ov2=&argj=&argk=&argl=&code=BSTKIC&org=stk


If this link does not work, try http://charts.barchart.com
use ticker symbol ESH9, set the chart to 60 minute interval, and 40 day range. For more futures ticker symbols click on the "Futures" link near the top of the page.