Replies to post #46475 on Short Term Trading Member Forum

[techcharter]

SPX Futures - Same E-wave as Open Market

The double zigzag off Monday's close is starting wave 5 of zag. There is a good chance of truncation since wave 1 of zag is larger than wave 3. It also implies a truncation with respect to the corrective advance out of the October 2011 low. Looks like th e200 day moving average was too much resistance.


http://charts.insidestocks.com/chart.asp?sym=esh2&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