Replies to post #47131 on Short Term Trading Member Forum

[techcharter]

DowDeva- EWaves Tell Same Story

I'm still giving the Wave 2 Flat (started at mid May lows) count highest probability for the SPX. Today's intraday action shows a possible wave 4 of wave C of Wave 2. A sharp rally at any moment challenging yesterday's highs would confirm the triangle.
Regardless, there have been 5 waves UP; therefore, a turn is expected sooner rather than later.


http://charts.barchart.com/chart.asp?sym=$INX&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