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July 16th, 2010: Update 2 – Morning

Posted by pugsma on July 16, 2010

10:25 am EST:  Looks like my 7-15 EOD thinking on the 3-3-5 flat for wave 2-[1] was correct afterall, which targets 1065 (38%) to 1079 (23%).  This looks like the c-wave of the flat. Hence, the inherent danger in trying to interpret overnight ES futures for next day cash market action.  I have a rule about that and broke it with the pre-market update today. Sent from my iPhone

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