Monday, October 18, 2010

10/18/10 EOD Update

SPX - 60 Min Preferred EOD

I added back my original count and labeled it as alternates. Looking at the MA chart, we are still in a bullish configuration and the 50 SMA is approaching the 200. I'm gonna leave room for an extended minute [iii] that targets 1190-1200.

If we run tomorrow and don't look back, my initial nested 1-2 count will come back into play.

AAPL just announced as I'm typing this and EPS came in at $4.64 vs 4.05. Looking at my MA charts

SPX - 60 Min Preferred EOD

Way out of the rising channel and MAs rising. Don't fight the trend or the Fed.

Will try to get a 5 min count out later.
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