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Friday, July 8, 2011

E-minis [Update 3:17PM]

[Update 3:17PM: rebound does not look impulsive at the moment. Here is the potential bear flag and deceleration channel.

[Update 2:30PM: Update squiggle count showing this as a Minute [iv] pullback which I was expecting.  I added a based channel and wave fours often can bounce off the top of the base channel at some point.  I also updated my Minute [ii] wave count which works nicely I think.

So indeed the 1330 pivot can break and we have a valid wave [iv] still.  The base channel is the make-or break for Minute [iv] count. A break into the base channel, considering how low of an angle it is, likely means we wouldn't have a Minute [iv] in my opinion. Too early to call.

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