Wednesday, August 25, 2010

S&P 500 ~ Intraday Update 1 ~ 25 August 2010

Wave iii may have ended at SPX 1039.82 and ES 1037:

Not completely sure though, we could see one more new low and reach 1030-1035 (or even lower if we get some panic selling?). After this I expect a rally to 1050-60 to form wave iv. This count is invalid if the SPX reaches 1070 (and unlikely at SPX 1064).