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techcharter

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techcharter

Re: None

Sunday, 02/24/2013 12:38:11 PM

Sunday, February 24, 2013 12:38:11 PM

Post# of 51788
SPX Intraday E-waves.

The selloff from Wednesday's open to Thursday's low was definitely motive.

Friday's bounce looks like a completed corrective double zig-zag.

Whether Wednesday was "THE" top, or a the top will occur in the near future makes no difference in expecing at least one more motive wave to the downside. The price fibonacci ratio is close to 60%. This is a good setup to go short or buy puts.

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