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Saturday, January 7, 2012

Saturday, 1/7/12 update

The ES has clearly been losing momentum since the blast off from the low of Dec 19. Prices were essentially flat this week except for the gap up opening of Tuesday. So right now Alternate #3 below would seem to be the most likely outcome.

Alternate #1

Alternate #2

Alternate #3


  1. Thanks for the update, Al.   Watching for the hourly trendline break.

  2. IF my Elliott count is correct, we had a Micro wave 4 low overnight with a Micro wave 5 currently in progress, this should be followed by a Minuette wave 4 & 5 into a top in the ES 1300 area.  I repeat, IF my count is correct (markets often don't behave themselves lol)