SPX technical update – breaking to the wave 5 lows

Markets dropped below the supports- the SPX counts a daily 9, hence 3-4 lower closes required target 770-800.
The VIX counts a daily 12 as well, putting a high alert with one more high to go.

I assume with SPX is going below 839 selling pressure will increase – on TV they say lighter volume – I see much higher volume traded.

More later, PPT defense working well so far 🙂 but the market back up – 45 min to go

~ by behindthematrix on October 23, 2008.

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