Tuesday, March 17, 2009 8:16:08 PM
The evolution of SPX waves.
Chart 1. A bullish view. It assumes that 3 significant waves down have fulfilled their minimal requirements and big wave 2 (in a circle) has started. This view will be confirmed if the price will cross the 800 area and penetrate the territory of wave 1 (purple). In the same area we have the cross-over of two significant “trend parallels” P1 and P2 (the method of tracing them is available upon request). Thus this area might also act as an attractant or magnet, but does not have to be reached tomorrrow.
Chart 2. A bearish view. We are in wave 4 (purple) up which will hit a tree at the magnet and reverse to complete waves 5, (5) and big 1(in circle) in the calculated 600-620 area.
Chart 1. A bullish view. It assumes that 3 significant waves down have fulfilled their minimal requirements and big wave 2 (in a circle) has started. This view will be confirmed if the price will cross the 800 area and penetrate the territory of wave 1 (purple). In the same area we have the cross-over of two significant “trend parallels” P1 and P2 (the method of tracing them is available upon request). Thus this area might also act as an attractant or magnet, but does not have to be reached tomorrrow.
Chart 2. A bearish view. We are in wave 4 (purple) up which will hit a tree at the magnet and reverse to complete waves 5, (5) and big 1(in circle) in the calculated 600-620 area.
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