These HBOS rumors are still very real and are deffenatly spooking some....
Dispite what the FSA says :eek:
http://www.bloomberg.com/apps/news?pid=20601102&sid=auSRh1RIA.QA&refer=uk
Key area now that 1322 for the Bulls on the ES
Its an Alt and a 1:1 point... They need to hold it, other wise its a green light for the bears....
5min ES :)
I can see the Bull count going into the low.
They've got an ED 5th wave going into the larger 38.2%.
The only problem I have with this count is, in an ED pattern, wave i should always the longest...
See what you think..:)
120min SPX chart..
The Bulls are no doubt seeing this...
38.2% when measured from the top of the previous inpluse wave... Again see page 127 in Frost and Prechter for the classic Flat example..
Weekly SPX...
Bench mark for today is still the -4.5/75 Alts...
If it starts to correct more then weakness sets in...Then the next higher ALt ( -15-17) comes into play..
well Its bumped up against that larger Alt as posted from before... Day session gives the Alt @ 1319.5 area so its go a few points lee way for Mu's possable last wave...:)
While its quiet...
Don't normally post these, fib number pressure points However there worth keeping an eye on, especially the on the cash index...
Its +55 up from the swing low and -21 points down from the previous swing high...(1312-1313)