Friday, June 1, 2012

6/1/12 - Pre Market Update

That ugly NFP number certainly points to the bear count I have been posting. Note the bull option ED should the market find support at 1290.

The 200 day SMA is at 1284 at the moment. We'll see.

Bear
5=1 at 1262. Lets see what happens at 1290 first.

Bull
The pink option on this count will be toast. Now the question is will wave 5 equal the same as the bear option above? One thing for this count and I guess could also apply for the bear count is a potential ED down to the 1290-1260 zone.
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