Friday, October 1, 2010

10/1/10 11:11 AM Update

11:11 AM Update
Always go with your first hunch right? Looking good. Will we see 1148? FYI, 1.618 times is 1152.

But it does look like a bear flag ready to sell off.

This is going to be my last post until after the close. Good luck.

10:47 AM Update

This pullback for b pink is pretty deep. As starting minutes ago, B hit a good Fib extension and a drill down of the squiggles can count out as above. A break of 1140 will confirm the count as it is labeled above.

10:38 AM Update

It hit the first Fib extension but I think there is more room to run higher. Wave a pink of B red may not be done yet either.

10:07 AM Update

10:07 AM - 3 MIN

I switched the 3 min view. The red fibs represent the extension of w black for y of B red. Looking for 1146-1148 for B red to complete.
9:40 AM Update

9:40 AM - 1 MIN

Here is how I'm counting it off the 9/30 high of 1157.12. The bears count that as wave 1 down but the squiggle count surely counts more like a corrective, especially off the top. I don't see how they were able to count my A (red) as a wave 1 down.

9:20 AM Update

7:55 AM Update

Here's an update to this triangle count. So far the bears can't get things going and neither can the bulls, which to me is consistent with a triangle.

I updates the degree labels for the subwaves. It is possible wave [C] is complete, however, keep in mind that wave [C]s in triangles are typically complex so we could bounce around several more times before [C] completes.

6:36 AM

Yesterday I briefly mentioned the count above at 8:41 AM and then posted a chart at 9:47 AM. I didn't give it much thought into the close but if we take out yesterday's high this will become a likely count.

We'll see. Still keeping an eye on that triangle and my primary count.
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