Replies to post #77635 on SPDR S&P 500 (SPY)

[2bit-nothing]

Two,

It includes only OEX (SP100) for I only trade OEX options. My EW wave4 top count is 398.01 which is 0.618 retrace of the entire down leg from Jan06 to Mar09 (wave1,wave2,wave3 composite) and it cannot exceed the top of wave2 which is 412.16. Therefore the most logical place to end wave4 is here. Today's high is at 395.85 and yesterday's high was at 398.91. Now if it continues to go up then this scenario will have to be revisited.

BTW, I consider OEX most representative of the market, since it contains the essentials of the DOW, the NASDAQ and the SPX500.

2bit