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techcharter

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techcharter

Re: None

Friday, 06/01/2012 9:18:14 AM

Friday, June 01, 2012 9:18:14 AM

Post# of 51787
INDU and SPX - Futures drop, EWave count

Given the huge drop in the futures right now, the best bullish case for this corrective move over the last 2 weeks is a wave 2 flat. wave b, the second zigzag is completing and allowed to end lower than the start of wave a, maybe bottoming today, and wave c rallying early next week. The time and price fibonacci ratios are too short to have confidence the corrective move is over.

The bearish case is: LOOK OUT BELOW! The entire decline for the month of May was Wave 1. Wave 2 is done, and Wave 3 should be a stronger decline than Wave 1.


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