Wednesday, February 8, 2012

2/8/12 - EOD Update [10:20 PM Update]

[10:20 PM Update]

ES appears to be targeting 1355 as well if the triangle plays out.

EOD Update

I don't have access to my StrategyDesk charts so I had to replicate the 30 min chart on TOS. I missed most of the action today due to travel but it appears the market bounced off the proposed ED TL.

I made a slight adjustment to last night's chart. The bottom line here, it looks like the market has one more push higher to complete either [9] waves, complete 5 gray waves or complete 5 blue waves that form an ED to complete the entire structure off the 1/30 low.

Note the alternate option I have there where waves 4 gray or blue may be yet another flat and if not, it appears the Golden Section target just may be met.

Please also note the ED option limits wave 5 to 1357 or else it will be longer than wave 3.

I am on vacation so my updates will either be late or brief. I'll try to drop in the CiL early but will only be for a short while.

blog comments powered by Disqus