2008-12-18 Market Watch

(SPX wave counting: nothing is changed,  wave C not finished yet)

(/ES, 1-hour)

(/ES, 1-min)

(SKF, 1-min)

($INDU 15-min)

(SKF 1-hour)

Trading system signal: short SKF.  My opinion: both SPX and XLF have further downside space.