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July 12th, 2010: Update 1 – Pre-Market

Posted by pugsma on July 12, 2010

8:20am EST:  ES Futures traded in a range from 1066 to 1072 (1070 to 1076 cash market).  The ES is still in a tight upward channel (black channel) and it bounced at the channel edge at ES 1066 (1070).   It’s possibe we could still see a wave v-(3) high of 1085  today in the cash markets before the wave (4) correction back to the 1058 cash market area or ES 1054 (red channel).

PUG ES Futures (8:06am):

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