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July 12th, 2010: Update 3- Intra-day Mid-day

Posted by pugsma on July 12, 2010

12:30pm EST:  There are a couple potential inverse head & shoulders setting up on the SP-500 that could propel the market to 1150 if the 1080 area is busted above deciseively and then 1240 if the 1130 is busted above decisively.  Both of these inverse head & shoulders targets are in-line with my primary count.  The McClellan Ocsicallator and MACD large postive divergence with price support this intermediate term trend change.   The summer rally of 2010 could be underway.

SP-500 Daily Chandle Chart (12:09pm):

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