Wednesday, September 1, 2010

Real Time Update (9/1/10)

[EOD update] Click for EOD update here.

[1022AM] Cleaned up the labels and degrees for a better form and consistency.

(red) From a time perspective, there's more upside potential after a wave (x) pullback if [i]-down ended yesterday.

(pink) If [i]-down ended last Wednesday, [ii]-up is tracing out a large double three and is almost done after perhaps a final small degree fifth wave.

(blue) The most bullish count is that the low is [b]-down of 2-up.

See yesterday's EOD update for a more detailed discussion.

[1011AM] SPX/mini count update (post ISM) -
A nice surge.

[940AM]SPX/mini count update -
Short covering in the cash market has pushed the rebound to a potential triple zig-zag (or an expanded flat (ii)-down is already in progress).

[630AM] overnight update (ES)-
At least a pullback is likely. Either a 7-wave structure (corrective) or an LD (impulsive).

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