4/9/12 - EOD update [9:00 PM Update]

[9:00 PM Update]

SPX - 60 min Channel

A channel to think about.

RUT - Daily

An update to the RUT count I posted last week. Looks like it may be in wave iii of c of 4. We'll see.

EOD Update

 sell off brings the count option presented on the daily chart below to the forefront. I'm trying to determine if this is minute [a] or [w] of Minor 4.

All I need to do for now is determine if there are five waves down off the 1422.38 high.  Those five waves either represent minute [a] or wave c of minute [w].

Once complete, I'm looking for a bounce for minute [b] or [x].

Keep in mind there is still an option calling for this leg down to complete a flat that started on 3/27 so we should keep that in the back of our minds.

SPX - 5 Min 

SPX Daily

Minor 4 target zone is 1370-1340.

DJI - Daily

Here's an update to the DJI chart I posted last week.