unfortunately, SPX just now exceeded the end of wave 1 (the first low this morning--I'm counting wave 2 as an expanded flat where the bottom of the B wave went beyond the end of wave 1), so our hopes for 5 down have pretty much evaporated--unless you can figure out another way to count today's move down as a 5.
The market just may end up doing the obvious--continue to go up into early November and then sell off on election news and/or QE II announcement at FOMC meeting Nov 2 - 3.
courageous!
ReplyDeleteunfortunately, SPX just now exceeded the end of wave 1 (the first low this morning--I'm counting wave 2 as an expanded flat where the bottom of the B wave went beyond the end of wave 1), so our hopes for 5 down have pretty much evaporated--unless you can figure out another way to count today's move down as a 5.
The market just may end up doing the obvious--continue to go up into early November and then sell off on election news and/or QE II announcement at FOMC meeting Nov 2 - 3.
I give SPX leeway until the 1180 handle is broken. It's my stop for ETFs.
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