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Apr 6th, 2011: Update 1 – Morning

Posted by pugsma on April 6, 2011

10:05 am EST:  Updated 5-min chart showing 1332/1336 gap support.

SP-500 5-min chart (10:02 am):

9:55 am EST:  Here is a quick morning update.   The SP-500 has broken slightly above the 1338 consolidation triangle resistance to 1339.38, but is having some trouble with the 1340/1344 gap resistance from the decline off the Feb 18th peak of 1344.   The target for this wave v-(3) is 1347 to 1351.   And then I think wave (4) may back-test the 1338/1340 break-out area late this week before (5) of minor 3-[5]-P3 heads toward the 1363 pivot next week for OPEX Friday (4/15).

SP-500 5-min chart real-time link: http://www.freestockcharts.com?emailChartID=7acf3d3b-e100-4ecf-a2d0-18a0afc02e44

SP-500 15-min chart real-time link: http://www.freestockcharts.com?emailChartID=6d47ee63-9c48-46b3-8513-b3e342748236

SP-500 5-min chart (9:44 am):

SP-500 15-min chart (9:44 am):

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