Thursday, June 2, 2011

6/2/11 - EOD Update

EOD Update
This is still my primary count. The market either put in Minor 4 as a running flat or wave [c] of the triangle was put in today.

3 Min

A near term view which I believe is setting up for a pop for at least a wave 3/c. The target is the potential inverted head and shoulders target of 1330. This target makes sense even if something more bearish is in store since this is the 50 SMA and 13 and 34 EMAs.

I posted this chart last night and today. This I believe may be telling and if anything lends strength to the triangle.
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