Tuesday, July 27, 2010

Intraday Update (7/27/10)

[307PM] SPX/mini squiggles -

[1125AM] SPX/mini count update - mini falling out of an ED. This morning's high is important.

[740AM] SPX/mini overnight update - mini is right at the upper limit of the larger ED (chart 1). Alt is a possible smaller ED as indicated in Chart 2. It's not easy at the moment to offer an impulsive count on the mini - the best one is (i)-(ii)-i-ii-LD [1] as shown in Chart 2 (grey) which implies a short term [2]-down. So the bull trap remains.
blog comments powered by Disqus