![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgJfIU2sc9OajP-miM9BN6iRkZpjgFV7LT_l0MQik3lxcgR0qYXRX2w810LIIKpYvs_bDxU9chYzdV_LFA06pfyYq9fbbz_2C1EUEgEex_ZwLRbkM1xVuHpsmw_miyRUvmZlDTrlTkkrig/s400/s6p500fractal06142010a.jpg)
And updated:
As I posted before the open I thought that a diagonal was forming. Whether an Ending Diagonal or a Leading Diagonal we don't know yet. If it's an LD we should retrace to ES 1070 +/- 10 and then continue to rally. But if it's an ED we've seen the high for the next few months today and should decline from here. Confirmation that a third wave is underway below 1040ish.
So, nothing changed, 1040 and 1105 are still the levels to break.