Dec 10, 2013


Two days later we do not have continuation even with another double POMO yesterday. This confirms that the huge candle is not the start of another rally probably short covering as I have expected.
The current move since October is for me definitely not an impulse. The best what I have come up with is shown bellow on the chart.
If we see see ATH expect another 3 wave structure probably Z to 1840-1850.
If SP500 does not make another ATH the move has finished as a double zigzag W-X-Y(preferred scenario). If you have followed my advice yesterday, you can sit back and relax now:) you will not miss anything to the down side.

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