Since I don?t have any reason to modify neither my long-term nor the short-term scenarios, this weekly technical update is going to be very brief.
I maintain unchanged the long-term count of both SPX and NDX from the last update I made on February 18.
If my scenario plays out I expect significant higher prices during the last quarter of 2012.
- NDX: From the October 2002 lows price is unfolding a Triple Zig Zag wave (B). If this count is correct price is now involved in the wave (B) pullback of the third Zig Zag. The assumed wave (B) should not breach trend line support in force since the March 09 lows, while the last wave (C) up could reach the Inverted H&S, which was shaped during 2008-2010, with a target at 3103.
