Tuesday, September 22, 2009

Friday 9/18/09-Tuesday 9/22/09 1m Charts

If [iv] of C of (Y) of [2] bottomed Monday 9/21/09, the market may top tomorrow. The charts above illustrate this possibility.

Given the choppy, overlapping waves on the Dow 30, an ending ending diagonal seems to be the only option. Wedging must be maintained for this option to remain valid. Note that (iii) of [v] may not have completed, c of (iii) may be underway.

The S&P 500 gives a totally different picture. Not only is there less wedging, but an impulsive count actually can be found. There was near i-iv wave crossing.

Tomorrow should be interesting considering the possibilities mentioned here and in the previous post today.

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