2012-05-07

SP Wave Count Changed

SP futures index gapped down and broke the low of 04/23/2012, so the purple line wave count became invalid. The low of today has reached the target of the measured move - same size as the down wave from 04/01/2012. Now we prefer the wave count that we posted on 04/28/2012. Please see attached:

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1 comment:

  1. snowrider5/07/2012 9:24 AM

    It's good that SP futures pulls up a lot before the market opens. We will need to watch to see if the cash index would fall below the starting point of last up waves - the low of 04/23/2012 in order to decide which count is valid.

    If 04/23/2012's low is breached, the wave count of 04/28/2012's post becomes valid. Otherwise, last weekend's count is valid.

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