Short Term Trading Member Forum

[techcharter]

Bliss -SPX Ewaves

I needed a few more days for the confusing pattern to make some sense. I've got a quite different count going on. I view the rally off the March '09 as corrective (double zigzag). Since the july '09 lows, the Wave-c zigzag has been unfolding. THe July- early august rally was motive. The consolidation was tricky because it was a flat. The rally off the September lows has been very choppy. I suspect this is an ending diagonal. The INDU, SPX, NDX, DAX have this pattern; however, the RUT pattern is very week since the October highs did not break the September highs.

One more rally into Thanxgiving is my call.