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techcharter

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techcharter

Re: None

Monday, 05/24/2010 1:18:54 PM

Monday, May 24, 2010 1:18:54 PM

Post# of 51808
SPX ED-warning

The intraday chart is showing Friday's bounce rally was only wave a zigzag. The rest of friday was wave b correction. Today is a zigzag. The zag is an Ending diagonal. This gives the wave count from Friday's low as a nearly finished double zigzag.

Since wave c zag is ED and 38% retracement, I am favoring a worse wave count of yet another wae 1-2 combo, not a wave 4 as previously favored.
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