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Tuesday, January 10, 2012

11:30 ET $SPX EW count. $SPY $ES_F at the "very edge"


We are at decisions moments and market is taking bulls and bears, to the very edge. 
We have 3 possibilities here, but we are going to present 2 of them, because the bullish one is out of our mind.
The first one, is that price will retrace in the afternoon below the "clue line" so, intermediate wave 2 stay in his original place. The second one, is with the alternative count and, if that is going to happen we will have to relabel the intermediate wave 2, to today EOD price, and has to be below the red dotted line, that is the neckline of the HS of last months.
We will see what happens today.It's scary but that is what market means.

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