6.28.2012

A downward move that breaks 1322.06 would accelerate the fall to 1315.10, then 1309.27

SPX 30min
For the yesterday forecast, I should have better noticed that wave 1 had finished and we were seeing a wave 2 underway because price had gone outside the descending channel.
I had made a correction call at 11.35am Update
"It is more likely I have to apply an alternative count, Wave 1 (= wave (5)) is already in and we are seeing Wave 2 which can be anywhere between 1336.50 and 1343.00."

For today, besides the odds opening for one more push up in wave 2, I set my short trigger at 1322.06 break down.

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