Thursday, May 17, 2012

5/17/12 - EOD Update

I really do not have anything new to add other than the fact that it most likely is not a diagonal now :). However, both counts as presented yesterday still apply so long as 1292 holds for the Minor 4 flat option.

The bears are obviously still in control.

I briefly introduced a more bullish count earlier today so I'll re-post this one as well. This would be the bull's next best option should 1292 fail.

SPX - Ultra Bull Option
A nice 50% retracement for minute [2] right at the lower end of the channel at 1290 would work for this count option.

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