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Dec 1st, 2009: Mid-Day Update

Posted by pugsma on December 1, 2009

I’m surprised by the quick ramp up this AM.  I’m going to focus the options down to just two right now:

  1. Primary (White/Green):  P1 has topped at 1113.  We are in wave ii of (3) of [A] of [P2].  Target for [A] is around 1060.  Also matches up with a H&S target area.
  2. Alternate (Purple):  P1 has not topped yet.  We are in wave iii of (3) of [5] of P1.  Target for [5] is around 1140.

It sure feels more like option 2 (Alternate) based on the price action late yesterday and today.  But until 1113 is taken out, I stickinig with option 1.

15-min Chart:

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