Thursday, December 24, 2009

And Just to Show You How Annoying the Market is Behaving

Like I was discussing here Count Choculitis we finally broke out of the trading range and my preferred count was the Triangle B wave. It seemed to best describe the action on the SPX.

.... Yet I was still holding the Ending Diagonal as an alternate count. (I always have 6-10 alternate counts going at one time, ranging from somewhat likely to nutso. I only show my preferred count, because I have to decide which one to trade off of, which forces me to choose a count that is "more likely than the rest" even though I ***never*** put a 100% chance of likelihood on *any* of my counts)

And the current move up and bounce down, is respecting the Ending Diagonal Option pretty nicely.

So for your viewing pleasure, 2 possible counts. The triangle is still my preferred but by a small margin. There is a lot that is compelling about the diagonal option.


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