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Aug 26th, 2010: Update 4 – Afternoon

Posted by pugsma on August 26, 2010

2:30 pm EST:  For primary count, this is a potential back-test of the broken down channel (in yellow) and right shoulder of inverse head and shoulders for wave ii-(1)-3.  We hit the 62% retrace target of 1048.  Target for wave iii-(1)-3 is 1084.  Below 1040, the alternate count takes over.

SP-500 15-min chart real-time link: http://www.freestockcharts.com?emailChartID=e029a014-2aa0-400e-8893-47b36d3bab2d

SP-500 15-min chart (2:20 pm):

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