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Monday, June 4, 2012

$SPX:Weekly chart. Big and short picture. EW count and forecast. Maybe primary wave B is in place.


Weekly chart

We have been calling the possibility that primary wave B could be in play and that was needed a last push as a minor wave 5, up. Looking closely the weekly chart, it´s a possibility that primary wave B is in place since April 30, and primary wave C has started its way, down. So, the big picture is bearish.

In the 60 min chart,below, the odds are bullish with , maybe a wave 1 completing it´s development and a wave 2, up, in play. So, the short picture is bullish.


60 min chart


$BAC: EOD 10 min chart. EW count and forecast. Bullish tomorrow?


The odds favor that wave b of wave 4 is in place and now a push up to complete wave 4.

$BAC: 10 min chart. EW count and forecast.


$ES_F: EW count and forecast.1,263.45 working as third EW rule?



Early today, we show the possibility of the 1,263.45 "clue line" respecting the third EW rule( wave 4 can't surpass wave 1 territory), so our "bullish count" could still be in play with minor wave 4 in place and minor wave 5, up, in play. Let's see what happens later.

$ES_F: EW count and forecast. Bullish setup of last push up theory(before the big and real downfall)




Daily chart


60 min chart


15 min chart

We are calling, since last months of 2011, for a BIG downfall to 600 level or less as the end of cycle wave 2. Also, we have been calling for a last push,up, as a minor wave 5 to complete intermediate wave c of primary wave B of cycle wave 2. We are near of the test of this last bullish setup call at 1,263.45 because, IF this level is broken, then the odds will favor the downside. We will watch carefully.

$SPX: EW count and forecast.



We have just posted ,the bullish setup theory in the $ES_F chart. Looking the $SPX daily chart, the story is the same but, the "clue level" is at 1,277.70. Looking, closely, this chart we tend to think that, maybe, markets are due for a bigger downfall. We will see if price respect the "clue line". IF not, things will turn very pessimistic.

$ES_F: EW count and forecast. Bullish setup of last push up theory(before the big and real downfall)




Daily chart


60 min chart


15 min chart

We are calling, since last months of 2011, for a BIG downfall to 600 level or less as the end of cycle wave 2. Also, we have been calling for a last push,up, as a minor wave 5 to complete intermediate wave c of primary wave B of cycle wave 2. We are near of the test of this last bullish setup call at 1,263.45 because, IF this level is broken, then the odds will favor the downside. We will watch carefully.