Tuesday, May 4, 2010

S&P 500 ~ Bearish fractal 4 May 2010

You wanna see bearish charts? : D

There you go:

Looking at the daily chart a found a very bearish fractal:

There are also EW counts that allow for such a sell off down to below 1100 within a few weeks. Gonna post them after the close today.

The bullish option is still valid btw. I hope we can determine tonight which count is the more likely one (I tend to the bearish one though...).