Thursday, May 10, 2012

5/10/12 - EOD Update

I'm keeping this simple for tomorrow and 1343.13 is the key for both counts below the way they are labeled.

Wave v=i 1t 1343. A lower low will surely justify this count.

Those who follow along in the CIL or follow my tweets have seen this count. This was calling for one more push down.

Minor 4 Flat
Should the bulls hold 1343.13, we must consider that minute [5] has begun. Per this count, I am assuming the market completed a leading diagonal up for wave i and started wave ii into the close. Wave ii should be a sharp retrace of approx 78% so we'll see what happens tomorrow.

So long as 1292 holds, the two options below should be respected.

Minor 4 FLAT Option

Minor 4 Triangle. 

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