SPX 60 min chart.

At least from this perspective there is no rush to cover. 60 min VIX chart also goes alongvery well here.

1380/82 needs to fall...otherwise I wouldn't be short....apart from scalping of course....
http://stockcharts.com/c-sc/sc?s=$SPX&p=60&yr=0&mn=4&dy=3&i=p10256149625&a=104586413&r=2088.png

a higher low , if that's the plan...might be at 1385.50ish spx fwiw

Edited by Teaparty, 09 May 2008 - 10:50 AM.

1382.57 spx is going to be key if seen..

My prophet charts aren't printing today, so I can't give a picture - but if it wasn't Friday going into opex, I'd be getting call options on the SPY at this point. We just tested 138.50. We are in a descending wedge, and if I understand Wolfe correctly, the 138% correction of yesterday's upmove was met at the open; implying that the wedge is done, and the Wolfe Wave measures to around 141.50, time is Wednesday/Thursday. Most of the S & P's I'm looking at seem to be completing a fresh wave down from an ABC corrective up, and what I'm seeing implies that we'll complete a corrective up from this down-move mid--week, with a Wave 3 of whatever starting then.

My prophet charts aren't printing today, so I can't give a picture - but if it wasn't Friday going into opex, I'd be getting call options on the SPY at this point.

We just tested 138.50.

We are in a descending wedge, and if I understand Wolfe correctly, the 138% correction of yesterday's upmove was met at the open; implying that the wedge is done, and the Wolfe Wave measures to around 141.50, time is Wednesday/Thursday.

Most of the S & P's I'm looking at seem to be completing a fresh wave down from an ABC corrective up, and what I'm seeing implies that we'll complete a corrective up from this down-move mid--week, with a Wave 3 of whatever starting then.

Sorry, don't know about Wolfe, just doing my own thing. Monetum looks broken and no sign of any kind of strength anywhere close. Price action is weak, internals are weak. I'm staying short for now.