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June 30th, 2010: Update 1 – Pre-Market

Posted by pugsma on June 30, 2010

9:20am EST:  ES Futures hit a high of 1044.5 (1048.5 cash) overnight and have since backed off to 1034 (1038 cash).  I’m looking for this wave 1-[C]-P2 to come to an end soon, setting up a large positive divergence on the daily chart between the RSI/MACD and price.  A wave 2-[C]-P2 rally to 1084 to 1098 should follow.

ES Future (9:12am):

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