Friday, December 3, 2010

12/3/10 9:51 AM Update

9:51 AM Update

I apologize but I cannot update with charts but the current count I'm tracking is the minuette (iv) completed a double (w-x-y) at today's low.

Pre Market
3 Min

If cash follows /ES, I'm anticipating (iv) to target the 2.618 fib extension as /es is right now. We'll see.

/ES

Jobless rate rises to 9.8% and /ES reverses nearly 10 pts. So far though it appears to be an expanded flat for (iv).

We'll have to see how this initial pullback shapes up because the other options are:

1. minute [ii] of Minor 5 now in progress
2. minuette (iv) of minute [i] of Minor 5 in progress
3. minute [c] of Minor B down in progress.
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