Tuesday, November 15, 2011

Pre Market Update [7:45 AM Update]

[7:45 AM Update]

Triangle E
This count is looking promising.


Pre Market Update

Still trying to figure how this triangle will resolve.

ES

ES now looks like it is in the heart of it's wave E.

I see three waves down to approximately the 62-78% retracement of wave D. Let's see if it bounces from here or if it plans to shoot lower to the TL below. Watch the potentially falling wedge here too.

SPX - Triangle 1 - 60 min

SPX should be doing the same so we shall see. Watch that green TL too.

SPX - Triangle 2 - Daily

I posted this one a few days ago. I'll bring it back as a reminder especially for those playing contrary to the conventional triangle. Note where the 50 day SMA is though. It is currently at 1222.
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