Tuesday, May 11, 2010

5/11/10 - SPX E-mini AM Update

As suspected last night in my PM post, I added an option whereby wave (iv) was working out a flat. Being that we are expecting a pretty decent drop to open, this may pan out along with the bear count. For the bear count, the drop has us in wave 3 of [v].

1 comment:

  1. You make a great point in prior post -- If this rally breaks thru Wave 1 down (1181) of the supposed P3 move (as indicated on your chart in prior post), P3 is officially cancelled for now and we finish a proper Z of P2. So the race is between breaking the last X Wave (9840) to downside (and confirm P3 is here) or break the Wave 1 (1181) to upside (and confirm P2 still here).