Thursday, June 23, 2011

6/23/11- Pre Market Update

The market is set to gap down huge and the two options I presented last night may be taken out right away or it will be very close. Those levels again are 1279.81 and 1273.

Based on yesterday's 3 min chart this will be a gap of recognition down for that count. I mentioned that yesterday's close put wave y at 1.618*w. A 2.618* extension would put y/c at 1281.

So keep an eye on that bear count as well.


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