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Dec 8th, 2010: Update 2 – Morning

Posted by pugsma on December 8, 2010

11:15 am EST:  Not quite there yet, but I’m watching for a potential “buy” signal (i.e. histogram above zero line and signal line cross above moving avg) on the 15-min MACD.

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=7c221815-c038-48ae-95ce-98bfcce49ed1

SP-500 15-min chart (11:10 am):

10:40 am EST:  Ignore the 5-min chart below.  Per my 15-min chart from the EOD, I had c-=1.62*a at 1220 to potentially complete a simple ZZ for wave (4) or if it needs more time then the triangle option.  Note, 1221 is the 23% retrace point.  Now if we break down below the 1219 pivot, then you can look for the 38% retrace of 1212.

SP-500 5-min chart real-time link: http://www.freestockcharts.com?emailChartID=b3a1f30a-324d-450f-8cad-a0f7c445fd48

SP-500 5-min chart (10:35 am):

10:15 am EST:  Here are couple options for wave (4).  Double ZZ down to 1212 or triangle that hold above the 1219 pivot.

SP-500 5-min chart real-time link: http://www.freestockcharts.com?emailChartID=1016955b-462c-4352-81a9-b8a0e54aa04c

SP-500 5-min chart (10:10 am):

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