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Monday, May 28, 2012

$ES_F: Ew count and forecast. 5 min chart.

The odds can favor the alternative count and tomorrow complete the wave 2, down, in the first half hour or so of trading hours. After this wave 2 can be in place, then wave 3, up?

05.29.2012 09:07 ET

It seems that the alternative count, could be the one.

$ES_F: EW count and forecast.

Above, is a 60 min chart were we show what, we think, could be a truncated minute wave 5, with an upside to 1,366 area. If this could be right, then primary wave B will be completing its development so primary wave C could start the "big and real" downfall down to 600 or less as we are calling some months ago. 
Below is a 15 min chart showing, what we think, the development of first 4 minute waves of minor wave 5 and we also think that, the minute wave 5, could be an extended wave up to the 1,366 area.