11:12 AM Update
This may still apply
10:57 AM Update
wxy complete?
10:37 AM Update
10:10 AM Update
Just watching these lines now.
8:33 AM Update
I may have been early on that wave y triangle yesterday. The fact that the old tri trendline has held, this may be something to really consider. Just watch for either the ascending tri or a symmetrical tri to wrap up wave y.
8:24 AM Update
This choppiness leads me to believe this could be an ending expanding diagonal?
7:58 AM Update
Still at 62% retracement. The bullish case that remains is a possible ED up for this final fifth leg. Break below 1326 and I'd say the case is pretty good this leg up is over.
Pre Market
Given the length of the corrective move off the Feb 2010 high and the fact that the wave structure from the 3/16 low may count impulsive in other indices, I have fine tuned the primary count to the above.
So what I'm looking for is the final fifth wave of minute [5] of Minor 3 before a more significant pullback for Minor 4.
Notice the alternate labels if one were to count this as corrective. It too would be in it's final stages.
ES may be confirming the end to the combo corrective move I posted yesterday.
Copper futures looking solid. Clearly out of the channel and a daily MACD buy signal and zero line cross.
TF (Russell Futures) broke out of it's falling wedge.
