Monday, December 6, 2010

Real Time Update (12/6/10)

[157pm] Squiggles -
Here's the bullish count assuming the triangle is complete. Time will tell.

[125pm] Squiggles (INDU) -
Potentially corrective 7 wave (or A-B-ED) rise from the recent low, leaving the larger count with bearish a tiny degree wave c or small-degree wave e of the triangle or larger-degree wave c (no triangle) to follow. Rising above the AM high invalidates the first option and most likely the second option and likely the third option.

[1127am] Count update (ES) -
On the small-degree 4th wave triangle count, the market could still be in a complex wave C of the triangle. Leave room for lower lows if that's the case. If wave C is already complete, wave E is in progress by definition.










[705am] Overnight update -
Stocks are either in a small degree 4th wave triangle or have started a 2nd wave / [c] wave (red) pullback. By definition, the triangle most likely needs the overnight low to hold.

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