Thursday, May 3, 2012

5/3/12- EOD Update [9:15 PM Update]

[9:15 PM Update] 

SPX - Daily Bull
 Here is an update on the daily bull option with the minor 4 alternates.

SPX - Minor 4 Triangle Option
Here is an isolated view of what the minor 4 triangle might look like. Volatility for the next 2 - 3 months.

I will start to create separate charts to help make it easier to follow these options.

SPX - Minor 3 Option
Don't forget about this option. Minor 3 may still be forming here since it is channeling perfectly. We'll see if this last long enough to form a minute [5] to cap off wave 3.

 EOD Update
SPX - 10 Min
The bears need to hold the horizontal line to keep the bearish count alive. There is a +ve MACD divergence.

SPX - 30 Min
Getting close to the blue option target but it can go either way. NFP should be the catalyst tomorrow.

SPX - Daily 
A test of the 20 day SMA at 1385?

SPX - 60 Min
H/S top in play. So far the bounce near the end of the day is testing the broken neckline. Lets see if the bulls try to rally back over.