Monday, October 12, 2009

Morning Count Oct 12

Friday was a triangle! Those sneaky triangles, thinking they are all cool with their 3 sides ....

Yep, it looked like a corrective mess and had a lot of people confused (myself included), hallmark of a triangle.

So here is my current count. Using SPY since there are data feed problems with SPX. But I have checked and this count works on the NASDAQ too.

Bulls win again, more upside in this leg of the rally too before any meaningful pullback.



AMENDMENT: After dropping this off in the CIL, alpha pointed out his count of this on Friday: https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgLIbT0xjmgoWla2ExDWN8fFi3i31meRTsdHeC-0icTQWsFiyexEA2ngaiXiljLhVxzyoEzH78mnKgvxjA9ISOFTlGceAPu-X-CZ9ePGTXBzGEaFFKVfeIKSenolGdYngW4uDG2DcJX9lvw/s1600-h/30+min+spx.png. Man, I am behind on the times :)
blog comments powered by Disqus