Friday, February 12, 2010

2/12/10 - AM UPDATE : E-mini and SPX [8:05 AM PST UPDATE]

[12:15 PM PST UPDATE]

Don't have time to update this but this was something I was looking at earlier in the AM.


Here's my count for SPX so far. It's sitting right on trendline support right now. Wave iv is in the works with v breaking through the support line.

[6:05 AM PST UPDATE]

The blue channel lines may be a good place to start in determining that (ii) is complete. This appears to be approximately 1063 on e-mini.


Futures look like they may be confirming my count today. However, we still have a long way to go to confirm we are truly in a (iii). I would like to see 1044.50 taken out to confirm.

After giving it some more thought last night a few alternates came to mind. One is listed here on e-mini. Joske from the CiL prompted this idea.

We'll just have to see if the bears have any resolve in selling this market or the bulls take a stand.

GL today!

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