Monday, March 4, 2013

More SPX alternative count

Another day, another wave. Price/time balance of wave 4 shows that triangle is highly unlikely to appear. As we know from Robert Prechter's guidelines triangles only in appear in wave 4 ( in wave 2 only in combination) before trend reversal. So this fact kind of opens up the door for new possible upside scenarios. We will have to start looking for alternatives when SPX breaks 1565 level.

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