Sunday, June 20, 2010

SPX E-MINI


It looks like the E-mini is in rally mode. As a follow up to my Friday post for the cash markets, it appears a triangle breakout has occurred.

Based on my preferred count, that would be a thrust out of a wave [4] with [5] underway. However, I also laid out a few other options on my Friday EOD post (see here).

One addtional option is labeled above. That option is an [A]-[B]-[C] correction with wave [B] represented by a triangle.

The Fibs and channels intersect at approximately 1150 at the moment as well as the triangle thrust target. [C] =.618*[A] =1147 and [5]=[1] at the same level.

BTW, [C]=[A] at 1170 as well. 

GL this week!

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