Friday, November 5, 2010

Real Time Update (11/5/10)

[355pm] Count update (SPX) -
Does not waste any time? The thrust up continues after a very shallow pullback.

[1244pm] Count update (INDU) -
The decline in the Dow futures is a lot more corrective than that in SPX, increasing the odds that the pullback is wave iv out of the large triangle. See the [1042am] entry.

[1042am] Count update (SPX) -
1228.74 is the 0.618 retrace of the crash.

[835am] Post NFP report update -
[750am] Overnight update (stocks and FX) -
Three waves have potentially completed in ES since the end of the triangle. And I like the blue squiggles on the DX better, i.e. no triangle.

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