Tuesday, August 3, 2010

S&P EWT Update: Target 1150

I still have my price target around 1150 on S&P. As you can see there is heavy resistance between 1145 and 1155. Exact timing is the hardest to do with EWT as you can see from my last S&P EWT post where the estimated end of the rally was July 29th at 1150. That timing was based on 100% time extension of wave a of C for wave c of C. This timing was rather unreasonable given the nature of wave a of C. So here's the next notable times: 161.8% of Wave A close 8/12; 261.8% of Wave a of C close 8/11; 161.8% of wave 1 close 8/18.

Keep an eye on the price with the timing as an afterthought.

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