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Mar 15th, 2011: Update 3 – Morning

Posted by pugsma on March 15, 2011

11:00 am EST:  Here is the updated 5-min chart.  This bounce today so is pretty strong.  It’s possible minor C of major [4]-P3 ended at this morning’s low of 1261.12 (shown as an alterante).   However, we’ll need let more waves play out (i.e. back-and-fill) the rest of this week to be sure.

SP-500 5-min chart real-time link: http://www.freestockcharts.com?emailChartID=d5b4a97d-e30d-4a92-8587-d501b0652e0b

SP-500 5-min chart (10:53 am):

10:30 am EST:  Here is the updated 15-min chart along with updates to the 60-min and 4-hour charts.   Wave iii-(3) looks like it hit a lower channel line at 1261.12 this morning.  Maybe working on iv-(3) now.   Ultimately, I have the wave (5) of minor C of major [4]-P3 target at 1251, where C=1.62*A.   However, it could end anywhere above the 1257 pivot support.

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=ba3e663c-a096-40ad-b96d-9df68a22f266

SP-500 15-min chart (10:18 am):

SP-500 60-min chart (10:19 am):

SP-500 4-hr chart (10:20 am):

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