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Thursday, December 16, 2010

E-minis

I realigned my e-mini count to match my cash index chart I posted yesterday http://3.bp.blogspot.com/_TwUS3GyHKsQ/TQkY7vzr0FI/AAAAAAAAIQQ/sg2BBNRg5RM/s1600/wlsh60.png 

That would imply a double ZZ for wave [iv] down to the November high support (purple line) at the least.
Here is the overall adjusted count.  I anticipate a pullback to at least November price support and then we'll go from there.  If the green line breaks support, that is indicative of at least a minor-sized trend change.

So to recap - I'm looking for a pullback to at least the purple line and no lower than the green line if this is Minute [iv].  If the green line breaks, then 5 is likely set where I have [iii]. Thats about my overall thinking at the moment.
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