Any questions?

Friday, April 13, 2012

$SPX: wave 4 in place. 1,290 target continues it's developing


  1. Hello PeruTrader,

    Love your blog. Just had a question about your 1290 target for wave 4. Wouldn't that break the EW rule since high of wave 1 is 1292.66 and your price target would make price go in to wave 2 territory ?

  2. Thank you for your words!. Yes, 1,292.66 is high of wave 1 and wave 4 can't retrace 1,292.66. Our 1,290 target was an approximate target bust we will use, instead, 1,293. Your question helps to respect,exactly, third EW rule. Cheers!

  3. Thank you for your reply. Much appreciated.