12/4/12 - EOD Update [7:33 PM Update]

[7:33 PM Update]

ES

Lets see where she ends up in 11 hours. So far out of the wedge like cash.

EOD Update 

We should know by tomorrow where this is headed over the next few days.

5 min 

If red is in play here, the market should drop in a third wave down for c of gray (see 15 min below) or iii red per the 5 min above. They both mean the same thing at the moment.

However, if the bulls can hold today's low, there is a good chance that 1415 should be re-visited at minimum for the alternate bear option in red above and or the bull target should the bulls really try to gain some momentum back.

15 min 

12/4/12 - Intraday Update

10:35 AM Update

5 Min 

This is what I was trying to tweet earlier. Lets see.

12/3/12 - EOD Update [2:23 PM Update]

[2:23 PM Update]

ES

Watching the lower TL for ES overnight and the TL for MACD.

EOD Update


Hmm. Very interesting today.

I'm still a little unsure of the short term options, at least which one I favor more. One thing I do know is that with the neg news (ISM and still no fiscal cliff news), the market should have sold off more.

The 50 day SMA provided the expected resistance today. Will it consolidate under here before punching thru?

The fact that it has only pulled back to the lower TL of the diagonal, I'm leaning towards at least another bounce off the TL. How high will be the question.

15 min

Options blue and green is looking for another tag at the upper TL.

Gray marked today's high as a complete leading diagonal. However, because the market found support at the lower TL, we must be mindful of one more push higher.

I don't have time to focus on the squiggles, but there may be a way to count five waves down off today's high (I would lean more towards a double zigzag tho). Naturally, a wave 2 bounce would follow that would move to 1418 if a 62% retracement is to be expected.

60 Min

12/3/12 - Intraday Update [11:51 AM Update]

11:51 AM Update

60 min

An update to this chart from Fri. At the lower TL now. Lets see what it does.

10:40 AM Update

There is the bear. Watch the blue and red TLs below here.

7:23 AM Update

60 Min 

In last Friday's EOD Update, I mentioned the potential ED/LD scenario. The gray option is introduced here as the Leading Diagonal option. Lets watch for it.

6:54 AM