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Wednesday, July 13, 2011

Looking for a small correction to complete (a)

Taking an intraday look at the E-Mini S&P 500 futures, on the subminuette chart (lower) we have completed an a-b-c retracement up this morning.  
This completes wave iv up of (a) down on the minuette chart (upper).

Shorter term, I'm expecting a move below the wave iii low at 1294.

If we trade above 1332, where I have a horizontal line, then this labeling is wrong. 

See my big picture page for perspective.  We are most likely in the last leg of a triangle wave 4  on the daily charts.

Posted by Waverunner (FractalTrader) at 10:58 AM

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Notation


Wave DegreeMotiveCorrective
Grand Supercycle((I)) ((II)) ((III)) ((IV)) ((V))((a)) ((b)) ((c))
Supercycle(I) (II) (III) (IV) (V)(a) (b) (c)
CycleI II III IV Va b c
Primary((1)) ((2)) ((3)) ((4)) ((5))((A)) ((B)) ((C))
Intermediate(1) (2) (3) (4) (5)(A) (B) (C)
Minor1 2 3 4 5A B C
Minute((i)) ((ii)) ((iii)) ((iv)) ((v))((a)) ((b)) ((c))
Minuette(i) (ii) (iii) (iv) (v)(a) (b) (c)
Subminuettei ii iii iv va b c
Micro((1)) ((2)) ((3)) ((4)) ((5))((A)) ((B)) ((C))