April 2010I am seeing several folks reference the Apr top and comparing it to what we have going on now. I don't think they are quite apples to apples yet.
I put together this chart and the one to follow to compare why I don't think we are quite there yet with comparing Apr to now. Not yet at least.
Present[3:05 PM Edit]
ES may have completed it's triangle. We'll see tonight.EOD Update
The market continues to climb the stairs. Almost out of room and a decision soon has to be made. Perhaps we see it tomorrow.
Option 1Still here. It has a bullish little nested 1-2 setup for 5 black. We'll see if it pans out.
The target is to at least the top of the channel.
5 MinHere's the 5 min view that supports option 1 above. Leading off the wave 2 red may be a leading diagonal or a nested 1-2.
Primary Triangle optionHere's the primary triangle option I'm watching. Either wave e of the tri is complete or one more leg down is required. Should it drop, I would expect 1270 to contain the drop. 1267-1268 may also be a target since that would make for a 62% retracement of wave d.
Combo OptionsHere are a view more options with the tri and the corretive combination. Most still apply as mentioned in yesterday's EOD post.
As for bearish options, I still the say the bears have not shown up yet. When they do make themselves known, I will certainly present the corresponding counts.
