Monday, April 25, 2011

4/25/11 - 9:00 PM Update

9:00 PM Update

The triangle for ES seems to be getting a little to out of proportion compared to the entire structure. I like this count here especially if the triangle breaks down.

Here's the hourly view. I believe a wave c/y is due tomorrow. A likely target would be the 20 MA at 1324. We shall see.

EOD Update
Still no resolution and the trendlines are still being respected. The market found some resistance at the blue symmetrical trendline today so one must believe this triangle may still be playing out.

I'll try to post my squiggle counts later if I have time once I sort it out. Just too many options there at the moment.
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