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Oct 4th, 2010: Update 1 – Pre-Market

Posted by pugsma on October 4, 2010

8:40 am EST:  ES Futures traded down to 1134 (1139 cash) overnight.   Still within both the ascending triangle and contracting triangle wave (4) counts.  For the alternate count ascending triangle, the SP-500 needs to stay above 1139/1140 cash market at the open.   For the primary count contracting triangle, the SP-500 needs to stay above 1129/1131 cash market today.

A break down below ES 1118 (1123) signals a trend change from up to down and more server correction is underway.

SP-500 5-min chart real-time link: http://www.freestockcharts.com?emailChartID=301092f5-4af9-470a-890c-7cb938c33538

SP-500 15-min chart real-time link: http://www.freestockcharts.com?emailChartID=5ddd1fe9-996e-4ed0-a34e-55e0dce26e96

ES Futures (8:22 am):

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