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Tuesday, December 13, 2011

E-minis [Update 3:50PM]

[Update 3:50: If there is a (b) wave to be had, then this may be the ticket. Otherwise, wave 3 down in progress.
[Update 1:16PM: Marketwatch's Michael Ashbaugh is a very good market technician. His area of support range pretty much matches mine. I must be learning something...

[Update 12:25PM: A couple of SPX variant squiggle counts based on a (b) wave of double zizgag [y] of Minor 2:

First squiggle count shows yesterday's low as (b) wave low. Count would be a double-three, flat-zigzag-zigzag count:
Second count shows another lower low coming under 1227.25 SPX in a bullish falling wedge move. 3-3-5 downward flat count for (b) in this case:
The daily shows roughly the support band. Note how the big green up candle on decent volume of November 30th pushed through the zone.

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