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Thursday, February 25, 2010

E-minis [Update 2:30PM]

[Update 2:30 PM:  EDIT: Actually, as pointed out in comments, the Wilshire doesn't technically overlap but the other indexes do.] This would be the most logical spot for a leading expanding diagonal triangle. They can start at the top of a major decline when you can spot them.  If this is a wave [iii] or 3, it would qualify for that. They can also have a deep retrace (closing the gap say tomorrow - or not - and then big crap to the downside. We'll see.]
[Update 12:30PM: Updated dollar chart. Something should happen hopefully and it breaks upwards. I have an ED count here.  It could of course be some kind of running correction and the ED is wrong.]

Ok I had the channel wrong yesterday.
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