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Dec 7th, 2010: Update 3 – Afternoon

Posted by pugsma on December 7, 2010

3:35 pm EST:  The top of minute (1) or (3) of minor 5-[1]-P3 is likely in place at 1235.05.  Now we are looking for a mimium retrace of 23%/38%(1221/1212) for wave (4) of the alterante count or 50%/62% (1204/1197) for wave (2) of the primary count.  If you are looking for a higher minor wave 5-[1]-P3 high near 1291, then you want to see a deeper minute wave (2) retrace the next few days.

SP-500 15-min chart (3:30 pm):

2:00 pm EST:  Maybe one more high left in this wave 5-v of (1) or (3).

SP-500 5-min chart real-time link: http://www.freestockcharts.com?emailChartID=c62c0ece-c274-4c5c-9edb-a4c1ec549e7e

SP-500 5-min chart (2:00 pm):

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