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I think old count no longer valid and we must switch to the new one.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

3 comments:

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.
Jay