Tuesday, October 12, 2010

Real Time Update (10/12/10)

[EOD] Click here for the EOD update.

[342PM] ED update -

[254pm] Squiggles (SPX) -
Leave room for this final bit of the large ED being a small ED itself. A bunch of threes so far.
[219pm] Post FOMC minutes (SPX) -

[1235pm] Count update (ES & DX) -
Moment of truth as the market clarifies which count is at play. A pullback or a reversal before the FOMC minutes ?
[1025am] Count update (SPX & ES) -
The blue count shows a top in place. The green count shows a moderate to a protracted bullish scenario. The ES chart shows algoes potentially defending pervailing trend lines until they fail and moving on to the next one.

[1006am] Count update(SPX)-
[959am] Squiggles(ES)-
An initial five or ABC.

[948am & 942am] Squiggles(ES & SPX)-

[857am & 932am] Overnight update (SPX / ES)-
A (kind of) technically valid ED in ES futures to go with the one in SPX cash , if it has one more shot at a higher high. The second chart offers a bearish count.
[850am] Overnight update (USD index / DX)-
To follow up on yesterday's EOD update, these charts show a potential flat wave [iv] in DX, barring a truncated wave [v].

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