This market is very weak, so even if we do see a C wave up tomorrow it’s not looking like it’s going to be very powerful. The bull flag triangle has broken down right now as the 60 min chart on the spx rolls over.
The 4hr and 2hr still have room to go on the upside which might still allow that rally to happen tomorrow, but by Thursday even those charts will be overbought. If this continues like it’s going then we could have a very ugly Thursday afternoon and all day Friday.
Doubt it… it’s just bouncing up and down inside the triangle. It could end the day right about here to fool the most people. Then do a C wave rally up tomorrow, with it peaking on Thursday morning. This is pretty typical actually.
This market is very weak, so even if we do see a C wave up tomorrow it’s not looking like it’s going to be very powerful. The bull flag triangle has broken down right now as the 60 min chart on the spx rolls over.
The 4hr and 2hr still have room to go on the upside which might still allow that rally to happen tomorrow, but by Thursday even those charts will be overbought. If this continues like it’s going then we could have a very ugly Thursday afternoon and all day Friday.
Still in the triangle…
http://screencast.com/t/rZsbCpNiui
Doubt it… it’s just bouncing up and down inside the triangle. It could end the day right about here to fool the most people. Then do a C wave rally up tomorrow, with it peaking on Thursday morning. This is pretty typical actually.
might be a breakdown
Looks like a bull flag forming inside a triangle….
http://screencast.com/t/b5jrXY2b
Look for a bottom of this B wave down to happen close to the “be-witching” hour around 3pm today.
ha-wow. They really knocked this thing back down
Looks like ABC…
http://screencast.com/t/dQ2Ff8JhVe
I agree Anthony, unless we cross the 1390 level today. I will go for a quick long position.
I am out, for a small scalp.