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November 8th, 2011: Update 1 – Morning

Posted by pugsma on November 8, 2011

10:30 am EST:    Here is the updated 15-min chart.   For the primary count it looks like i-(3) completed at 1271 today at the mid-line.  I’m looking for a back test of the 1257 pivot support for ii-(3).  This count remains valid above yesterday’s low of 1240.75.

For the alternate (blue) count, I have moved the minor B wave up to today’s 1271 high.  Minor C of major [2] should break below 1240.75 and head for at least 1223, where C=0.62*A.

SP-500 15-min chart (10:23 am):

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