Friday, October 1, 2010

Real Time Update (10/1/10)

[322PM] RUT update -

[122PM] Count update (SPX and RUT) -
The wave structure in the RUT is telling with a decent bearish tilt.
[1050AM] USD index likely bottomed -
The final squiggle of squiggle low as mentioned in the [730AM entry] in the USD index is likely in, barring extension.
However, it's prudent not to over-emphasize the correlation between DX and SPX as the currency market is currently a much less manipulated market on $4Tr /day volume.

[1043AM] Squiggle count update (ES) -

[1021AM] Squiggle count update (ES and SPX) -

[10AM] Euro/USD -
Does not waste any time (blue) or super-bullish on euro (green).
See yesterday's EOD update for details.

[937AM] Squiggle Update (ES)-

[740AM & 837AM] Overnight Update (ES)-
The rebound is looking corrective so far. See comments in yesterday's EOD update for details.
[730AM] Overnight Update (USD Index)-

The proposed missing piece of the USD index has arrived and is now in place. It may need one small squiggle low, or may not, but the larger structure is complete enough if there is no more extension.

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