Short Term Trading Member Forum

[techcharter]

SPX Futures WAY UP

The flat pattern call was accurate. I still don't know if it was wave 2 or wave 4. The rally off yesterday's lows appears to be a nearly completed, double zigzag correction. Since the time and amount (40%) of this correction is short relative the motive selloff, more time is needed to correct.

Looking at the open market trading tells a different story. The wave 2 flat is in it's final stages. A pop and drop is imminent.

http://charts.insidestocks.com/chart.asp?sym=esh2&data=Z60&date=051406&den=HIGH&divd=Y&evnt=ADV&grid=Y&jav=ADV&size=D&sky=Y&sly=N&vol=Y&late=Y&ch1=011&arga=&argb=&argc=&ov1=&argd=&arge=&argf=&ch2=&argg=&argh=&argi=&ov2=&argj=&argk=&argl=&code=BSTKIC&org=stk