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Tuesday, February 8, 2011

E-minis [Update 1:11PM]

[Update 1:11PM: From a futures standpoint, this is the only count that makes sense for wave [v] at the moment.]
[Update 12:44PM: An updated SPX count. The ALT count is what EWI has.  But that implies extended waves (iii) and (v) which is not a strong guideline and waves (ii) and (iv) lack alternation.]
[Update 12:26PM: Still haven't given up on the down pattern here. Nasdaq may be forming an [A][B][C] wave ii flat.]
[Update: How to turn a 5 wave pattern down into a corrective. One method is a w-x-y combination with a triangle as the last corrective (which is how I have Minor 4 itself labeled). I'm bored.]
[Update 10:33 AM: I'm probably going to look foolish posting this in a few minutes but what the heck
[Update 10:15AM: The same 5 wave down pattern exists on the COMP and SPX (SPX not shown). The DJIA does not have 5 down - it may make new highs and be a small non-confirmation with the SPX and COMP - We shall see.]
[Update 10AM: Hey look 5 waves down.]
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