Radar/Followup – SPX

August 4, 2011

Radar/Followup – SPX wave count.  Using the full-session emini, it appears as if yesterday’s rally into the close was the completion of wave 4 of 3.  The target for wave 5 of 3 is now 1195 (Sept ES), with a window of Tuesday or Wednesday of next week.

However, if the market takes out yesterday’s high, we’re likely to see a 3-day rally.

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