Picture has come more into focus with today's action. The previous count has changed some from yesterday's post with respect to the action from last Friday's high.
If this is correct, wave 1 of C ended at Tuesday's low and we've been in a zig zag correction since, and currently in the final stages of that move. There's a lot of resistance in the SPX/ES 1090 area, and I suspect that's where we'll turn.
I'm looking for the 30 minute V Stoch to top in buy territory and roll over hopefully accompanied by a nice divergence in the 5 minute V Stoch. As of now (2:55 PM CST) that is shaping up quite nicely. Quite interestingly the Buy line on the Buy/Sell Vindicator has ticked down into the close and may be diverging against the highs.
Thursday, June 10, 2010
Subscribe to:
Post Comments (Atom)