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Wednesday, February 10, 2010

*Very* Interesting Overnight Move

Looks like a Leading Diagonal. The shape and count is perfect. The move up has been a 5 and a pullback (for A and B of 2). LD's typically have a retrace of 78.6%. That is what I would like to see on the futures (on the cash this whole move will probably look like and expanded flat for 2)

..... assuming that we are in an impulsive down count. Which not everybody agrees on :)

10:35 Updated count, here is another possibility (replacing the one above)

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