Wednesday, August 20, 2014

8/20/14 - EOD Update

I like the squiggle counts on the 5 min chart. Per the blue count, wave {iii of iii may have completed today.

The yellow count, however, has wave {c of y of a double zigzag complete. One thing to note is that wave y = w at 2000.

We'll see if the bulls can make a new all time high, otherwise, keeping an eye on a potential double top here via the yellow count.

5 Min 

60 Min 

8/20/14 - AM Update

[10:31 AM]- The previous wedge is no good but another one may be forming.

10:31 AM

[8:13 AM] - A possible lil ED up here.

8:31 AM

8:31 AM

[7:20 AM] - Keeping an eye to see if wave {iii is complete.

7:20 AM

Tuesday, August 19, 2014

8/19/14 - EOD Update

We'll see if wave {iii is complete or if it wants to extend some more.

5 Min 

Pretty much at the inv H/S target.

60 Min 

8/19/14 - AM Update

[10:12 AM] - This wave {iii continues work higher and is now approaching the upper end of the blue channel and where it intersects with the purple trendline (6/12 and 7/17 lows).

The double zigzag in yellow is still in play but I will give the edge to the blue count. Let's see if wave {iv is in the works now.

10:12 AM

Sunday, August 17, 2014


The bears failed to seal the deal with a larger impulse wave structure down. On Friday, I felt the market was going to close green even with the Ukrainian news. It just felt like an opportunity to buy that news.

It didn't quite close green but close enough and now the more bullish count is a nested i-ii {i-{ii wave up in blue. The bears only count is a double zigzag bounce, which implies a little more upside before heading back down.

We'll see what happens and adapt as usual.

1 Min 

5 Min