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Z-M-L

11/10/09 10:49 AM

#19509 RE: Z-M-L #19159

On October 16th in post# 19159, three trading days before the 1101 high which was 4-points higher that my 1097 short-term target, I stated to be on guard for a Wave-(iv).

The sharp rally over the last 7-trading days looks be Wave-b of a-b-c FLAT in the SPX, which is typical for a Wave-(iv). Consequently I am on the lookout for a potential sharp drop back to 1020-1029 level to complete this a-b-c Wave-(iv) Flat.

AI