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June 3rd, 2010: Update 2 – Intra-day Morning

Posted by pugsma on June 3, 2010

11:13am EST:  Since the contracting triangle was busted this morning, I have elimited the 2nd alternate count for a new low below 1041.  I’m focusing on the primary count and for that the key level to hold is 1087.55.  There is very stiff resistance beginning at 1105 and the market has tested it twice this morning.   My target for this wave (3) up is above 1120 and 1140 to 1150 for wave (5).

15-min real-time chart link: http://www.freestockcharts.com?emailChartID=f3654141-a16f-4819-a0b2-733dd510dbec

SP-500 15-min Chart (11:10am):

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