Monday, September 27, 2010

9/27/10 - EOD Update - 10:00 PM

I added a few things to this chart and made a correction for minuette (ii). As posted earlier, there is a MACD triple negative divergence at hand.

I wanted to point out what happened after the previous triple, which actually looks more like a quadruple neg divergence. That quadruple resulted in a pullback that I have labeled minute [ii] on my other charts.

Now that we are there again, I'm expecting that minuette (ii) pullback.

I added alternate labels near the top as well. It is possible we are working on an a-b-c flat pullback. I don't show it on the chart above but if c=1.618a at 1107, which equals a 38.2% retracement of the rally starting from 8/27. c=a is at 1123.
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