Thursday, January 31, 2013
SPX - Weakness
The preferred scenario, wave [z] or Alt  , is weakened by the movement of yesterday and is near to being disavowed (below 1498).
First alternate count: the upward move of the January 29 is a "short" wave [z] / Alt: , so the Alt: c / y wave is finished and we are already in a downward corrective wave.
Second alternate count: the top of yesterday is a wave 2Alt: and began the correction in wave 2Alt: with the first goal in 1495-1490.
It is time that traders must be very careful.
Have a great trading day...with care!!!