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Aug 30th, 2010: Update 4 – Afternoon

Posted by pugsma on August 30, 2010

2:42 pm EST:  The SP-500 tagged the 50% retrace target of 1053 thus far (which btw is also the 62% retrace on the ES chart for the ES 1072 high overnight).  I added the wave ii-(1) running flat count (in blue) off the 1039.83 orthodox bottom, for those that did not understand my earlier comment.    The running flat count makes little differnece to the overall count, as it should also end in the 1050 to 1053 area.

SP-500 15-min chart real-time link: http://www.freestockcharts.com?emailChartID=c151a358-ce66-406d-aded-2614e4a693a0

SP-500 15-min chart (2:35 pm):

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