Sp', daily, bearish outlook, count'2
The H/S formation was confirmed, we had the break below 1340 - the March support level, and we have been slowly - but steadily, falling all this week. A thirteen day down cycle, with no sign of levelling, never mind actually turning back upward.
The count on this chart is one where we are taking into account the main monthly chart which suggest 1150/00 within the next few months. Its possible of course that the wave'3 in this daily chart will go much lower than the target box, perhaps as low as 1150 in June.
I make the charts...but not trade them
Once again I've failed to trade the very charts I've been posting up for the last few months I'm long from sp'1334 (Wednesday morning), and we're now almost 40pts under that.
So, its been a complete waste (never mind the financial aspects), of my time this week, and so far this year. I sincerely hope the rest of you out there are doing infinately better.
Goodnight