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July 1st, 2010: Update 1 – Pre-Market

Posted by pugsma on July 1, 2010

8:45am EST:  ES Futures traded down to 1016 (1020 cash) over night.  So effectively we’ve hit my target for the completion of this wave down for all 3 counts.  Howver, testing the 38% P1 retrace target of 1010 may be the ulitmate target, so keep and eye on that level if we drift lower.  ES is tracking is a tight down channel.  The key levels required to break-out to the upside are first 1026 (1030 cash) and then 1044 (1048 cash).

ES Futures (8:27am):

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