Monday, February 4, 2013

Charts 02-04

Here's how we can cross the larger channel by the end of the week, to SPX 1452.  I returned to an earlier count, suggesting that 'a' an 'b' of an irregular wave 4 are in, and we are now working through the 5 waves of a steep 'c'.

Looking for a pop in the morning and hard reversal midway through the session, with damage continuing Wednesday, and finishing up Friday.  If the irregular 4th wave count is correct here, the c of 4 wave will look like an impulsive wave 1 off the 1514 "top", which will then get chewed up in the coming weeks.

SPX 02-04

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