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Monday, July 13, 2009

Squiggles

One thing my squiggle chart suggests is that the market has more upside to come. There may be some early wave iv weakness but it should find support. If pink wave (iii) hasn't even topped just yet, then imagine pink (iv) and then pink (v) must play out. If that is indeed the case, then the SPX will hang above the H&S necline for a few days finally topping out at pink (v) which of course five pink (v) waves would make just be Minute green [i] up.

The great thing about this squiggle chart is that if a bear move down chops hard, then your looking at an (a)(b)(c) from 869 low and indeed the bears would have regained control. I show the bullish count of course.

So again, will the 869 (X) wave prove to be the low and a final summer rally to P2 peak is underway?

Its exciting either way it goes.

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