Monday, August 19, 2013
SPX - Perhaps the downward wave is finished...
.... or perhaps not; the breakdown of 50 day MA is worrisome :-/
The preferred and the first alternate count have the same odds;
wave b could be in completing with a downward zig-zag [a]-[b]-[c] or we are just in wave Alt:[a]
However, it is too early to open new long positions (it is already difficult to keep those in progress like VRX and SLM)
If and when a new upward move will start, I'm looking for the following leading stocks:
ACT, LNKD, HLF, QCOR, FLT, GMCR, DDD, WWWW
Have a great trading day...with care!