Wednesday, January 12, 2011

1/12/11 - 10:29 AM Update

10:29 AM Update





7:10 AM Update

I'm going to work off this chart and ES. I believe this may only be wave 1 of 5. IMHO, wave 1 of 5 targets 1285ish and will be followed by a wave 2 pullback back towards the tri resistance level at approximately 1278 before launching in a wave 3 of 5 higher.

Keep in mind that Option1 is even a bit more bullish.


Pre Market : ES Triangle Complete

/ES

As suspected last night ES has broken out of it's triangle and out of the range it has been in. So far it looks like five tiny waves up for possibly wave 1 of 5.



I suspect cash spx will attempt a run at 1285-1290 today. This lines up with the top of the channel and the triangle thrust target.
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