Tuesday, January 25, 2011

12:09 PM Update

12:09 PM Update

Falling wedge for wave e??

11:24 AM Update

10:48 AM Update

Sorry. Been busy in the chat room. I think there is a good possibility wave e of the triangle may be complete.

Pre Market


Looks like a moderate drop at the open is setting up. If the bears want to come out of hibernation, this is going to be the time to do it since there is an initial five waves down (at least one may be counted as such, though it is a lil suspect) and the three wave bounce.

There are a few options on ES above, which is very similar to the cash counts I have been providing. Notice the triangle potential in there as well?

Below, I have labeled my top three options as A, B and C. I have been pushing the triangle for the past week or two now and that remains the top option. Until the count is invalidated, that is the one I'm primarily watching.

However, that does not mean charts B or C cannot run their counts parallel with A and all remain valid at the same time and at times all may indicate a move in the same direction.

For instance, this morning's potential opening drop is still acceptable for all counts. There are thresholds to watch to invalidate those counts. They are listed on the charts so keep an eye on those. Until those counts are invalidated, assume they are all in play.

Chart A

Chart B

Chart C
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