Thursday, September 9, 2010

Real Time Update (9/9/10)

[EOD update] Click for EOD update here.

Not a triangle, but a potential flat, going back to the (1).(2).1.2 count, with the nice feature that (2) and 2 being flats.

On the bullish count, the decent overlap leaves us the possibilities of a double three (c), and expanding ED fifth wave, or the very bullish 1s2s. But the negative divergences favor the bearish count in general.

[223PM]SPX/mini count update -
potential triangle in progress.

[135PM]SPX/mini count update -
See earlier entries for larger picture counts.

[1145AM] SPX/mini squiggle update (ES)-
Looks like an initial LD down in both cash the the futures, followed by a regular upward flat in the cash but an expanded upward flat in the futures. Look for the next leg down if this is the case. See the 945AM and 845 updates for the larger structure.

[945AM] Post jobs report update (ES)-
Looks like we have a small degree five down.

[845AM] Post jobs report update (ES)-
[715AM] Overnight update (ES)-

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