Sunday, October 2, 2011

The S&P500…its not over…its just beginning...

its possible to count impulse waves on the SP500 as indicated with the numbers in my chart. However, almost all patterns are really just single, double or triple zigzags as I mentioned in my previous post…therefore, I am preferring to use the zigzag for this analysis. Additionally, we are a convergence of many supports…I indicated just a few…and they all come in around these levels…if this support area goes…its not going to pretty. I also included a possible double zigzag scenario which essentially will also satify the traditionalist impulse wave view...

This meltdown is just beginning...
 
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