Replies to post #31017 on SPDR S&P 500 (SPY)

[Footquarters]

Hi Ravi







Basically in the ABC Down move the B to C is a consolidation move before more down. That is the only move that is not measured on a ABC down. So it could end today or at open or go to the 1496 which is the best case scenerio. At that time of the break then we are able to measure the target or the C to D move, which may end up at the around 1365 area. There is lots of if's and but's here and remember I am not a guru, so there is a lot of room for error. Also, the fact that Gleno is long, so the board is waiting for capitulation and the 13 martini post from him. That is actually the true measured move for the rest of us. LOL