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Sept 27th, 2010: Update 3 – Mid-day

Posted by pugsma on September 27, 2010

Potential New Subscriber:   Enjoy the rest of September for free, as an example of the premium intra-day updates.  I’m offering October for a discounted rate of $20 (reg rate $30).  Just drop me an e-mail at pu_gridiron@yahoo.com to sign up.  Note: After October regular rates apply: $30 monthly or $75 per quarter.

1:05 pm EST: Maybe a falling wedge (bull flag) has formed today?  It’s a little tricky here, but I’d say it now looks like with the overlapping corrective waves today, there is the potential for one more push higher towards 1155 to 1160. As long as the 1137 pivot support holds today, this pop higher would work for all three counts I’m following.  From there, the depth and length of time of the next correction down will determine which count is correct.

Tues 9/28  and Thurs 9/30 are POMO open market buying days, so it’s another good opportunity for the Fed to pump this market higher into the end of the third quarter.

SP-500 5-min chart real-time link: http://www.freestockcharts.com?emailChartID=44d54266-65dd-489e-bcd7-98096bf467b9

SP-500 15-min chart real-time link: http://www.freestockcharts.com?emailChartID=05a24e39-ed6e-49f4-b96c-bdd37c459351

 SP-500 5-min chart (12:40 pm):

 SP-500 15-min chart (12:55 pm):

SP-500 60-min chart (1:15 pm):

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