Wednesday, October 19, 2011

Pre Market Update [6:32 AM Update]

[6:32 AM Update]

Another perspective. Look at the MACD trendline.

Pre Market Update
Copper may be hinting at the wave 2 pullback for SPX. Notice the rejection of the MACD TL on the backtest? Need to keep an eye out on any triangulation.

If ES makes a new high, one more -ve MACD divergence may be put in.

SPX- 5 m
Should one more high be made, 13 waves (an impulse) will have completed off the 10/18 low capping off what may be five waves up off the 10/4 low.
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