Tuesday, March 12, 2013

SPX - new count

I think old count no longer valid and we must switch to the new one.

SPX - long term
This is more pessimistic one... instead of wave X in global correction SPX is finishing wave 5 which took form of ending diagonal. This means we have some more upside to 1580 area but after this mark everything becomes dark...

SPX - short-term
Fibonacci cluster is at 1585 and people should exit their longs there... Still, it does not mean you should go short right there.


JKF said...

What do you think of the recent price action in facebook? you think it still has one more low to make or have there been 5 waves up from $26.34?

Andrew Vorobyov said...

I put new count for you.

Jay Strauss said...

HI Andrew
WE are on the same PAGE for the SPX
expecting 1580 also;
then 1566, and grand finale at 1589.
might attempt to peak over 1600 a bit on April 1st but it cant hold those levels.