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Oct 19th, 2010: Update 3 – Mid-day

Posted by pugsma on October 19, 2010

12:15 pm EST:  Is the SP-500 going to fight its way back through the 1177 pivot resistance and the 1179 to 1183 gap resistance and make a new high per the alternate count?  Or is the SP-500 going to reject the 1177 pivot and gap 1179 resistance then collapse back through the 1168 pivot support towards the 1150 support per the primary count? 

The odds are about 50/50 betwee the two counts as I type this mid-day update.  A close above 1177 favors the alternate and a close below 1168 favors the primary.  So what you bet the SP-500 closes in between the 1168 and 1177 pivots?   I’d say those odds are high of that happening.

SP-500 5-min chart real-time link: http://www.freestockcharts.com?emailChartID=7c1c5055-f516-4bab-a70e-351623139642

SP-500 15-min chart real-time link: http://www.freestockcharts.com?emailChartID=20f6dc38-1f21-4576-9fcc-cba411d1af7f

SP-500 5-min chart (12:05 pm):

SP-500 15-min chart (12:20 pm):

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