Tuesday, February 1, 2011

S&P 500 ~ Intraday Update 1 ~ 1 February 2011

I guess the right answer is "gap and rally" lol : )

There wasn't even a small correction at the 1300 level. Next target should be the 1313 level, above that I have to look for some targets first... : )

I think what we've seen over the past week was a fourth wave flat. That's called bad luck I think... last April I counted this sideways movement as a fourth wave which was wrong (since we went lower) and this time I decided to follow the April fractal... : )

The-rally-is-over-level is now at 1275 (1271 before) the second (conservative) level remains at 1260ish.