INDU is close to its 50% on the weekly
between 10680-10650 depending if you measure from the top of the proceding impluse wave..
The 1:1 of the move down (y=w) on the chart comes in just below the 50% at 10560 area
weekly INDU
1178 is the 1:1 on the SPX so it might get some support on the open if it can hold that area...if not then its implusing and we'll have some way to go..
120min SPX
While it's lunch time :)
Traingle on AAPL ??
Scribble of an "idealised" pattern just to give an idea..
Daily APPL
patterm incorrect if price goes below the "a" wave low
Time wise today is 62 (61.8)cally days from the 15th July low, 34 from the 11 Aug high 13 from the 2nd Sept just to name a few...
It also the 3 low in a row so the Bears need to be a little careful with all this time & price pressure...:)
First test on the ES (1228-1230 area)
Needs to clear the 1:1 and 38.2% if it has any chance to go higher...
As usual ,if it carn't its new lows on the cards.
5min ES
Barclays quits Lehman sale talks
http://news.bbc.co.uk/1/hi/business/7615712.stm
BBC are reporting Barclays walked away because it was unable to obtain guarantees in relation to financial commitments faced by Lehman when markets open on Monday.