Friday, November 12, 2010

11/12/10 EOD UPDATE

EOD UPDATE
SPX - 30 MIN PREFERRED COUNT

Here's my preferred count. The pullback played out must faster than previously thought last night but so far so good. Wave (y) was a near perfect in size to wave (w).

We have now retraced into the price territory of minute [iv] of Minor 3 and completed minute [a] of Minor 4.

Or the more bullish option is that we just completed minuetted (ii) of minute [v] of Minor 3.

I'll address that expanding leading diagonal option over the weekend.


12:49 PM UPDATE
LEADING EXPANDING DIAGONAL??

EWP, 10th Ed, Page 40, "This form appears to occur primarily at the start of declines in the stock market."
9:43 AM UPDATE
SPX - 30 MIN

y=w and at the bottom of the descending channel. However, the larger ascending channel was busted. Let's see if it can crawl back into it or will it be rejected on the backtest.
8:35 AM UPDATE

SPX - 10 MIN

Possible MACD positive divergence.


SPX - 30 Min

Let's see if y=w and if the channel holds.
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