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techcharter

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techcharter

Re: techcharter post# 47471

Wednesday, 10/10/2012 11:59:27 AM

Wednesday, October 10, 2012 11:59:27 AM

Post# of 51788
SPX Bounced, but...

The bounce off the opening low was definitely corrective. The lower low in the SPX this hour is motive. Instead of a zigzag or double zigzag, the only other corrective could can be a wave 2 flat. I don't give it a high probability because the zigag off this morning's lows was disproportionately short lived in time and price.

Reconsidering the wave 4 triangle as another smaller degree wave 2 might be more accurate.
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