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Mar 28th, 2011: Update 1 – Pre-market

Posted by pugsma on March 28, 2011

8:45 am EST:  ES Futures traded up to 1313 (1318 cash equiv.) overnight and is trading around 1311 (1316 cash equiv.) in the pre-market.

Primary count (white ) is looking for the SP-500 to continue to climb higher toward 1347 in wave iii-(3)  of minor 3-[5]-P3 with very little pull-back along the way.

Alternate count (blue) is that have (1)  of minor 3-[5]-P3 has ended at 1319 and a wave (2) correction down toward the 1303 pivot is underway.

Support is at the 1303 pivot.   Resistance is at the 1315 pivot and the 1315/1320 gap.

SP-500 5-min chart real-time link: http://www.freestockcharts.com?emailChartID=5f13182b-7c1b-40f7-b0a3-deac6d8a2f4f

SP-500 15-min chart real-time link: http://www.freestockcharts.com?emailChartID=2e2eff7b-8e6c-4fe5-b5c3-17fe4facfc3d

SP-500 5-min chart (EOD, 3-25-11):

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