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Dec 3rd, 2010: Update 2 – Morning

Posted by pugsma on December 3, 2010

9:45 am EST:  There are signs that the “dip buyers” are all ready in the market this morning.  This could end up only being a wave iv-(1) drop and the SP-500 still make a new v-(1) high near 1227 to 1230.    The first possible targets for iv-(1) is a 23% retrace of 1213.   Guess what, that was the level that was hit in the pre-market ES just after the bad November jobs number. So wave iv-(1) could be in already.  Pretty amazing strength here  in early trading.

SP-500 5-min chart real-time link: http://www.freestockcharts.com?emailChartID=c073086a-e7dd-4511-9bee-42a9d43001d2

SP-500 5-min chart (9:35 am):

This entry was posted on December 3, 2010 at 9:42 am and is filed under SP-500. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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