Thursday, July 8, 2010

Hourly SPX Trend Model

Here is an updated look at  my hourly SPX Trend Model:

SPX_60


The above model not perfect, nor is it intended to be.  Nonetheless, it is up over 25 S&P points with its latest Buy signal.  I've pounded the table to ",Respect the trends," over and over again, yet even I am guilty of transgressions against this mantra.  Just when we think we may know it all, karma humbles us.  

Meanwhile, the EW analysis remains the same, expecting new lows before this pattern is complete.  Wave 5 target remains 960-860:





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