Thursday, November 24, 2011

11/24/11 - HAPPY THANKSGIVING

Happy Thanksgiving. I just wanted to post an update to ES, which continues to diverge.

I have to believe based on this plus some positive count options, a decent sized rally should be in store.

I have added a 60 min SPX chart below highlighting the two most probable bull count options. Notice that the count is corrective but still allows for a move towards the 1300s.

The bearish alternate1 count remain in effect and is also looking for an end to it's wave 3. This count option is aligned more with the green option below near term.

ES

SPX - 60 Min
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