24 Sept 2012

Still looking for higher prices to come.  So far we have gone sideways for 7 days. Daily SPX has a stoch. that has come out of its overbought condition, but the 60min chart has stoch. pointing upwards a clue to the continued downward push would be if 60min stoch. crosses back down.  On a 5min scale the count would be a 1-2 1-2 of 3rd wave of 5th for the bullish case, and another alternative would be for this move to continue downwards for a C of C wave of 4.  If your confused dont worry so am I.  Always the case when your trying to count on a micro level.