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 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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