Today we see if that cyclic low gives a better short-term buying opportunity for those still doing that kind of swing play "scalping" (though scalps are actually intraday fast trades). Yesterday the SPX held at 1142, but maybe today we'll see a test around 1137. I don't believe we'll see the SPX go under 1132 (that would really change my working "count"**); once we get past the temporary pullback, the SPX should test on up to/above 1160. Having a pullback makes that an even more enticing short-term buy opportunity! Anyway - Thanks once again to Mike Korell and ChartsEdge, here are today's "maps" from the ChartsEdge Daily Maps site at
http://www.chartsedge.com/wp/:
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Posted: January 12th, 2010 | Author: Mike Korell | **I'm tending to see this as a small w4 of the fifth-wave move. If the SPX fell under 1132, we'd look toward 1127 of course, and I'll be tweeting anyway as I see things from time to time during the day.
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