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June 1st, 2010: Update 2 – Intra-day Morning

Posted by pugsma on June 1, 2010

10:24am EST:  The drop to 1078 this AM was almost a precisely at 38% retrace from the 1103 peak and I have labeled it wave (2).  Right now the SP-500 is fighting to get back up and through the 1090/92 neckline.  If it does so convincingly, then the wave (3) move up towards 1120 is underday.  The target for the completion of this wave 1-[1]-P3 is the inverse head and shoulders target of 1140.

15-min chart real-time link: http://www.freestockcharts.com?emailChartID=d2ccab24-d245-4ce8-9565-6598390dbf56

SP-500 15-min Chart (10:15am):

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