Tuesday, January 4, 2011

1/4/11- EOD Update [10:21 PM Update]

[10:21 PM Update]

Couldn't get to the charts until now. Here are some of those options I was referring to earlier at EOD. Most of the charts were posted in the chat room earlier today.

Bollinger Bands- 60 Min

Just wanted to highlight the bounce at the 20 period on the hourly. This may help support my option 1 count



Wave 5 Extension

This option shows the count as possibly complete, which would mean the rally off the July 2010 low is complete.

3rd Wave Extension Option

This option implies that the top put in yesterday completed minuette (iii) and today the market worked on minutte (iv). The Fibs and channel mark the possible target level for (iv).

1257 would be a key support level.

INDU

I haven't labeled the INDU in a while. This count above goes with my option 1 below.



EOD Update


Option 1

This is still the primary. It was very close to be invalidated today. I'll post some options later.

Possible targets above are 1275 at the mid channel or 1280+ at the top of the channel.
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