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Oct 7th, 2010: Update 3 – Mid-day

Posted by pugsma on October 7, 2010

12:45 pm EST:  The SP-500 is correcting deeper via a the second ZZ (i.e. abc-x-abc) for wave iv-(5) towards the 38% retrace (1151).  Any break below the 1145 /1150 support area “may” mean the top of wave v-(5) has been put in this morning at 1163.87.  And a break below the 1137 pivot support would certainly confirm the top of wave v-(5) has been put in.   Should be an interesting close today to see if key support continues to hold going into tomorrow’s Sept Jobs Report.

SP-500 5-min chart real-time link: http://www.freestockcharts.com?emailChartID=50f5a2fa-8723-4ec5-aaf0-b97d42e772c4

SP-500 15-min chart real-time link: http://www.freestockcharts.com?emailChartID=50f5a2fa-8723-4ec5-aaf0-b97d42e772c4

SP-500 5-min chart (12:35 pm):

SP-500 15-min nchart (12:35 pm):

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