Tuesday, March 1, 2011

This Dip is "Different"

There may not be much more downside for $SPX tomorrow morning.  A natural spot for a moderate bounce is 1317 prior to further declines.

However, according to my patterns this "dip is different", and there is evidence to suggest sharper declines to follow a possible moderate bounce.  A waterfall type of decline may occur given the technicals - caution is warranted.  

 30min Chart


  1. 1317 is important, but I think SPX is heading to the top pink line at 1340. Elliot Wave 1294 bottom to 1332 top is A wave - 38 points. We completed B wave today. C wave is 38 points plus 1302 and that is 1340.

  2. like your analysis, pretty accurate, glad i found your site gr mario

  3. Thanks, glad you like it. SPX may cool off here and test 1317 now, on the way up to 1340.