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Seems like 5 waves up has just run its course in the SPX...... the test now is whether it holds 50% or 62% retracement now...... SPY 15min chart

Mu, Even though we may have different counts, but it's nice to arrive at the same low together!:) First checkpoint for SPX is to clear 1173 on the way up.....

....well.... looking at the futures now, it's pretty clear yesterday's move was corrective....... :D Wondering what other tricks will Paulson and Bernanke pull out next...... I am looking at the worst case scenario in the SPX 60min chart, that wave 1 down started from early sep... Wave...

I'm not betting on it though....:D On days like this with so much volatility and volume, my charts and even the exchange data goes haywire...... So I'm staying out of the market until there is clarity.....:) Enjoy the rest of your day!

It looks more like an ABC to me rather than a 1-2-3......:)

I believe there should be one more move down..... but the question lingering in my mind is, how far down.......:( The AIG liquidity issue has not been addressed.... and there is still a FED announcement later...... which would prevail?:confused:

Yep... looks like we are in wave 4 now before a final move down....:)

well... i'm thinking it could be an extended fifth wave in the 30min INDU.....:)

Good night irene... good night irene... :D :D :D You think we gonna hit 500 points down for the INDU today? Wow! It's getting hammered alright!

Who's irene?

indu 30min....

If it is a triangle forming in the INDU 30min chart since 10am, then perhaps the end is near...... :D

Mup, Thanks for sharing your detailed analysis for the past few days. I appreciate!:)

Could it be wave 2 of C wave? Seems a liitle strong to me....:confused:

Are you referring to OIH instead?:D :D And yes, I think that ED count on the SPX since the Aug 11th high is becoming very very likely now.... and after that..... up up & away!!!!!:D Waiting patiently now! TraderRob, I'm glad to read your posts. Hope to see you more often!:)

There seems to be some semblance of a flat forming in the SPX 3 min..... Need to see if it rebounds at about 1:1 or 127%....

...the ED c-wave option on the RUT is out..... way too deep to be an ED....:mad:

...looks like an ED c-wave on the RUT 15min chart......:eek:

Here's another possibility on the SPX.....:)

...looks like SPX may be keen to hit 1231 before resuming its upward climb.....:)