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S.P. mini's: UPDATE

 8/18/09

2:07EST

ESU9:

I finally figured everything out. 

The Wave structure did not change as I mentioned yesterday. The Gap down from 1006.50 threw me a curve ball.

The gap down from 1006.50 to 975.50 is the last leg (3) of the Running C/T, its wave structure matches perfectly the previous 2 legs (1 &2).

 I’ll update this subject a bit later. 

Today’s move up from 975.50 is not complete until we reach 991.50.

 At 985.25 /985.50 we should gather momentum and close up for the day, although there is a possibility we reach 983.25/983.75.  

Before we continue downward to 963.50 to 967.00 we should reach 998.75 which will be the cycle high after the sharp drop from 10016.00.

From 989.75 to 991.25 we enter the RED (danger) ZONE.

I recommend Longs to have covered before entering the Red zone.