Monday, November 22, 2010

11/22/10 - EOD Update

EOD Update

Option 1a is the count du jour. However by the close I'm contemplating the move off the 11/16 low as a five wave move. Will post charts later .

11:41 AM Update

Option 1a is the preferred now. Waiting to see five waves up complete off this am's low and then a three wave corrective down to setup a long trade. Remember 5-3-5s are the easiest to trade.

8:52 AM Update
Option 1

Still watching this option as my primary.

For all others go here.
6:55 AM Update
Don't forget about option 1 c as well.

Here's a recap of all the options I'm tracking

http://waveprinciple.blogspot.com/2010/11/111910-eod-update-2-count-options.html
6:38 AM Update
Option 1

With option 1 above, I speculated that minuette (b) may possibly form a triangle. It may also form a flat.

Option 1b


Pre Market
/ES

It appears ES has completed what looks like five waves up. I have labeled it wave 1 or A.

From here we should expect at least a three wave down and then followed by another five waves up at the minimum.

Cash may have to be labeled the same. We'll have to see how far the retracement plays out.



/DX

The dollar appears to have completed five waves down. So we should expect a three wave bounce and then at least another five waves down.
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