Thursday, May 27, 2010

Overnight Update 27 May 2010


ES down 10 handles yesterday when I went to sleep and now up 20 handles.

I relabeled yesterday's high to wave (a) of [ii] and the sell off to 1056 to (b).

Targets for this (c) wave are 1088 ((c)=0.62*(a)), we are right there now, if we break through the 1090 area we should go up to 1108 ((a)=(c)) or even to 1141 ((a)=0.62(c) and ~ inverse H&S target)