Thursday, June 18, 2009

S&P 500 New Alternate Counts, USO

S&P 500

I have identified two new S&P 500 alternate counts. Of the four counts two indicate higher prices from here, one indicates lower prices and the other indicates a more sideways pattern before another leg up.


Crude Oil

Crude Oil etf USO still looks bullish with a target near 41 or 44. A move below Wednesday's low would probably negate that view.