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Tuesday, April 6, 2010

BXK and XLF Large Count Updates

I put this post out a month ago: Some More Evidence For the Continuation of P2 --- the BKX discussing the the sneaky but valid bullish ascending triangle on the BKX, it's target, and what it means for P2 on the SPX.

Here is an update on my BXK and XLF counts. In short, I do not believe the bear market rally phase is over for either, and I think both target the 38% retrace levels from the last crash by early-mid Summer.

BXK Charts

XLF Charts

The overall XLF structure is similar to the BKX structure. Here is the chart with the relevant target and projection.

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