Tuesday, November 30, 2010

11/30/10 EOD Update

EOD Update

It's been a hectic day today at work. I'm wiped so I only have energy to post two charts tonight (maybe I'll get a second wind and post more later but no guarantees).

We continue to find support at 1173 and form corrective waves up and down.

Option 1b

This stood out at me today after taking a step back from all the mess. I think this may be a pretty decent possibility. If minute [c] is forming an ending diagonal, it appears it is missing it's fifth subwave down.

So I'll definitely be keeping my eye on this count.

Option 1c

Here is option 1c again. I made a few adjustments to the labels but nothing significant. If this option is playing out, I'm looking for the completion of wave c/y of minute [b].

I'm thinking that minute [b] is just going to be a flat here so a test of 1200-1204ish would be in order before minute [c] down starts.

I still have a few other options in mind but will not post those charts unless it becomes pretty evident that they are playing out.
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