Thursday, December 31, 2009

... or still underway?

SPX: Since the market almost dropped to the possible wave iv low (see my last chart) it's also possible that wave iv is still underway:

Not what I hoped for the last day of the year.. but if they don't wanna close green there's nothing I can do... : )

Edit (10:40 AM): We are now below the point where I thought wave iv had ended. So, the count above looks really nice. Wave (A) should bottom anytime soon. Then wave (B) might take us back to 1125/26 and afterwards wave (C) should complete wave iv around 1118/19.

Edit (11:20 AM): May be this was it. (A)-(B)-(C) completed. (It could also be just wave (A)) Whatsoever, I'm not going to try and pick the bottom of wave iv.

I might chime in later today after the close. If not expect the next update to come in the new year.

Happy New Year! : D