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June 4th, 2010: Update 7 – EOD

Posted by pugsma on June 4, 2010

4:20pm EST:  The low for the day was 1060.50.  My low target for the wave (2)  3-3-5 flat is 1053, where C=1.62A.  So there may be a bit more down-side left early Monday.  A test and hold near the 1050 level would be bullish for the intermediate term.    However, the 1065 gap has been filled, so we could rally from here.  I’ve moved the neck-line of the inverse head and shoulders to an upward sloping yellow line.  The key levels to cross are 1105 and then 1115 to the upside, which brings a target of 1150 and then 1170 into play.

15-min Chart (EOD):

60-min Chart (EOD):

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