Tuesday, December 7, 2010

Real Time Update (12/7/10)

[305pm] Squiggles -

[220pm] the larger count -

[1230pm] Squiggles -
A five down from the AM high in ES / SPX but less obvious in YM / INDU.
Possibilities include downward reversal or an ABC with B as a triangle.
Nasdaq has remained relatively stronger than SPX/INDU

[740am] Overnight update -
We have an upward thrust on of a classic triangle as discussed last night (955pm entry). The primary count is that the pending high is [i] or [b], with a pullback as [ii] or [c] coming. The text box in the chart lists nearly all possible count of the pending high with respect to the larger count.

Notably, if the market extends to make the proposed small degree (v) longer than the corresponding (iii), the end of the triangle is likely a the end of a wave B (green) or we have a nested 1s2s situation with shallow pullbacks.

No comments:

Post a Comment