Thursday, March 22, 2012

3/22/12 - Pre Market

ES
Looks like we have the H/S in play here. One thing we must consider is this playing out as a flat and the leg breaking down thru the neckline just represents wave c/y.

For ES, this would represent a wave 2 pullback following a five wave move up. This would line up with one of my alternate counts. See the 30 min chart . Slide the alt2 (2) of [5] label over to substitute. Or this 60 min chart I have have been tracking as well.


Keep an eye on the lower channel.

I say this because if copper is working on its final leg of a triangle, this may correlate with this alternate SPX count.
HG
Will the triangle be completing here soon?
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