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June 16th, 2011: Update 1 – Afternoon

Posted by pugsma on June 16, 2011

2:15 pm EST:  Here is the updated 15-min chart.

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=a4d783c0-c4e3-44ec-8a69-9c9912302713

SP-500 15-min chart (2:11 pm):

2:00 pm EST:  It was a success product launch meeting this morning.  We’ll be shipping production quantities of the new sensors by June 28th at the end of Q2.  Terrorist and criminals beware!   🙂

It looks like for the primary count (white) the move to 1274.11 was wave (4) and now we are in for a wave (5) drop to test the 1257 pivot area.  Wave (5)=(1) at 1257 and the HS target is 1253.  I would love to see an intra-day wash-out and bounce on decent volume this afternoon but we might have to wait for OPEX Friday for that.

The alternate count (blue) has like made the wave (2) high of 1274.11 and is now headed to somewhere near the 1233 area for wave (3), (4) and (5) of minor 5-[C]-P4.

SP-500 5-min chart real-time link: http://www.freestockcharts.com?emailChartID=e795373b-5410-4f1e-91e2-b25434950cef

SP-500 5-min chart (1:51 pm):

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