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S&P 500
5,464.62
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US TECH 100
19,220.80
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0.07%
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39,150.33
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techcharter

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techcharter

Re: None

Friday, 11/04/2011 9:46:11 AM

Friday, November 04, 2011 9:46:11 AM

Post# of 51804
SPX Lower Trendline Broken

This morning's open broke through the lower trendline of the 2 day rally pretty convincingly. This action fits well with a completed double zigzag at a fibonacci 2/3 retracement of the last week's selloff. Look for more selling. One more comment. Considering the rally out of October lows to be Wave 2 of April-October 2011 Wave 1 selloff, Wave 2 may still be incomplete. The time spent correcting does not look proportional. The October rally may only be Wave A, and today may be a continuation of Wave B.

http://bigcharts.marketwatch.com/advchart/frames/frames.asp?symb=spx&time=&freq=
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