Monday, October 18, 2010

10/18/10 12:27 PM Update

12:27 PM Update
SPX - 60 Min Preferred 12:27 PM

I altered my preferred slightly because I think minute [iii] may be concluding today. Sell on the news for aapl ER and retrace for minute [iv].

Wave [5] of minute [iii] may be forming an ending diagonal. We have seen the ED scenario before too.

9:05 AM Update

It was a iv triangle. Now keep the alternate count in mind.

This could be the final push up to complete the X wave. We wanna see 1184 taken out to confirm we are heading higher.
8:44 AM Update
A wave iv triangle?

7:30 AM Update
7:30 AM - 5 min

Here's my current count with the alternates. I believe my initial hunch was correct at EOD Friday.

I have added an alternate wave X at the top there. It is possible this corrective structure since 1184 is a wave 4 as part of a larger 5 wave move off the 1131.87 low on 10/4.

Futures is sporting a possible triangle.

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