Saturday, August 28, 2010
LATE Monday should provide the high we are looking for at the 1080 area-
If it comes in the first hour, then Im off to play golf the rest of the day
Monday is an 8 day HIGH, making Tuesday an 8 day TURN, fitting PERFECTLY
into my previous scenario at the 10am/ 13 hr hod.
HERE'S THE RUB
IF we are going to see a drop under spx 1010 next week, IT HAS Got prove itself
on Tuesday by taking out the 1040 support AT A MINIMUM, other wise the "C" wave
will be very ANEMIC , and NOT make it to 950 or less
The Chart above CAN BE very deceiving -
making bulls think that 1040 was MAJOR SUPPORT
However,Typically we get WAVE equality of wave "A" & wave "C"
wave "A" from 1220 to 1040 was 180pts
which means that wave "C" Should be the same.
Monday at 1080 - 180 by weeks end =900
And if a daily decline, can also be viewed as a CLIMAX wave,
setting up the next impulse wave into at least mid NOV.