Saturday, February 20, 2016

MTU Weekend Ed. - Short Term Update (2/19/15 close)

SPX is back inside prior channel and closed above prior key support line, which is bullish. 
Bullish count - new impulse to new highs.
Near term bullish count - ABC rebound on a wave B or wave 2 retrace, but with meaningful upside.
Near term bearish count - a wave 4 flat or triangle, with limited upside.