Friday, September 16, 2011

1:10 PM EOD Update

1:10 PM EOD Update

The blue count remains king. The primary count is that wave (a) or (w) of (C)/(Y) completed today at 1220. The 5 min count below highlights the squiggles.

Blue Count - Primary

5 Min
I believe wave c of 2/b/x zigzag nearly completed into the close. Wave c may target 1218-1220 once more so we'll see what happens on Monday.

Should it be complete, I'm looking for a drop down towards the 1190 area for wave 3/c/y.


Wave iii Extension
However, should wave iii extend wave i 1.618* towards 1228 (see caption on blue count chart above), then this would be the explanation. The triangle for blue 4 looks nearly complete if not already complete.

Have a great weekend all! I'll  be posting some longer term weekly charts over the weekend so check back later.
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