INDU and SPX TextBook E-Waves
Today was the larger wave 4 of the Nov '08 Flat-C. It was a textbook triangle. There should be only one more thrust higher and a retest of today's opening high before a top is in. Since the market has move higher very quickly these past 2 weeks, and is close to the top, this last advance may be muted or finish overnight.
The ABX index rallied a little. It looks more like a pause before a lot more carnage below.
The INDU, SPX, NDX, RUT, DAX, FTSE, NIKK, AORD are synched to drop from a FLAT correction. The SSEC is set to drop from a triangle that just broke the 200 dma.
