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Tuesday, August 18, 2009

After the bell update

Today felt like a wave 4 kind of day, not much to add since yesterday, the Bullish and Bearish counts are both still alive. There is one more option for the Bears, and that would be this 3-4, developing into a 1-2, even more bearish then before. It did not feel like the action today was any type of impulsive up movements, but more a corrective style of movement.

In the bigger picture, the MACD, on the SPX went below zero today, still with a bearish trend to it.

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