Tuesday, January 18, 2011

1/18/11 - EOD Update [10:30 PM Update]

[10:30 PM Update]

Just an update on this cup and handle formation I have been watching.

EOD Update

The market continues to stair step higher. I added a mini rung at 1290.

If the market shot straight up tomorrow it would touch the top of the channel at approx 1299.

Option 1

This option here is still in tact. The question remains though what top this would be once it completes. If anything, I think the market wants to tag that upper channel.

Wave 3 Option

This option shows that wave 3 black is complete or near completion.

Wave 5 Extension Option

If the market wants to rally above 1300, this continues to be the option I'm following
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