Wednesday, October 27, 2010

S&P 500 ~ Intraday Update 1 ~ 27 October 2010

The SPX broke below the channel and reached my first target (1170ish) a few minutes ago:

As long as there is no rally above 1178 I expect the SPX to go lower to around 1160 by tomorrow to complete wave [a] of 4.

Yesterday I accidentally mixed up the wave degree in my short term count. All waves should be one degree higher (e.g. instead of [iii]: 3). Sorry for that.