Wednesday, August 11, 2010

Intraday Update (8/11/10)

[3PM] SPmini squiggle count update -

[1113AM]SP-mini squiggle count update -

[1028AM]Wilshire 500 squiggle count update -

[705AM] SPX/mini overnight update -
[Blue] First key level (yesterday's low) was breached overnight, lending support to the end of the wedge.
[Red] The second key level is the July 30 low, as minor-2 could be tracing out a triple zigzag, with the final (b) of [c] tracing out an expanding triangle as discussed in yesterday's EOD update.
[Otherwise] Happy P3-down.