Replies to post #46912 on Short Term Trading Member Forum

[techcharter]

SPX E-minis Down 9 pts

This is not looking good at all. The wave count now heavily favors a 2-4% drop as multiple degrees of wave 3's unfold.

At best, a triangle has formed over the last 3 days, and this is past of a multiweek consolidation before another rally.

http://charts.insidestocks.com/chart.asp?sym=esm2&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