Short Term Trading Member Forum

[techcharter]

BLISSBULL, I'm Thinking UP Too. However...

I think the spx has been working on a wave 2 flat in both the open market and futures the last 2-3 days. wave c should take the SPX to the 1440 area.

While we agree the on the short term direction, my longer term wave count is looking for wave structure confirmation the top is in, and a multi-month bear market has started.

Open market chart

http://charts.barchart.com/chart.asp?sym=$INX&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

Futures Chart

http://charts.insidestocks.com/chart.asp?sym=esz2&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