By | July 07 2009 10:04 AM

While we've seen a decline from what should be interim targets in price and time, the weekly charts still show outstanding upside targets. For a more solid decline, I'd prefer to see these targets reached first. At the moment we're seeing potential Gartley corrective moves to downside on the S&P and Nasdaq daily charts. Timing for a low starts today and builds into the start of next week, so if we see even a bit more of a decline, the Gartley patterns are actually reinforcing support.