July 11th, 2011: Update 1 – Morning
Posted by pugsma on July 11, 2011
10:30 am EST: Primary count (white) is that minor 4 of major [1]-P5 is playing out as a Zig-Zag, where (c)=(a) at 1322 or the 38% retrace of 1321. The target for minor 5 of major [1]-P5 is now the 1363 pivot area.
Alternate count (blue) is that major [1]-P5 topped at 1356 and major [2]-P5 is underway. The targets for major [2] are 1307 and then 1294.
A break through the 1315 pivot support area is the division between the two counts.
SP-500 5-min chart (10:20 am):
SP-500 15-min chart (10:20 am):
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