Tuesday, October 5, 2010

10/5/10 - EOD 1:00 PM - Ending Diagonal Afterall???

EOD 1:00 PM - Ending Diagonal Afterall???

EOD - 3 Min

Perhaps an ending diagonal afterall? This chart came out quick though and I didn't check subwave 5 against 3. If not it may have just been another running flat for v and a final fifth to that high.

Gotta run for the day and I may not get an update out later. At least not with Strategy Desk.

11:54 AM Update Bear Spoiler Alert- Another Possible Triangle

Either it's a bear spoiler or at least signaling that this move up may be coming to an end.

11:35 AM Update Ending Diagonal Alert

Looks like a possible Ending Diagonal for wave v.

10:51 AM - 3 MIN

We may have seen the top of v but with the possibility that it was only iii. If it was only iii, look for iv to find support at the lower Fib levels and previous wave 4.

I'd like to see 1150 hold if it's going to be new support. It is possible given the Fib retracement levels.

9:57 AM Update

The triangle as I have it labeled is out by the way since subwave [D] is higher than [B].

8:39 AM Update

8:39 AM - 3 MIN

This looks like the right count.

8:12 AM Update

Possible Wedging.

7:53 AM Update

7:53 AM - 3 MIN

Looks like the top of iii of v red so far. Keep in mind this impulse may also be just wave 1 of v. We'll address that when the time comes.

7:45 AM Update
Here's the count using my TOS platform. Remember the MACD analysis chart I showed before when I believed my minuette (i) had topped. This looks more like it now.

Notice where the gold oval is located at the upper trendline resistance. I think subminuette v ends right up on that resistance line and in line with the 1158-1170 range for this leg to finally complete.

7:35 AM Update
7:35 AM - 60 Min Preferred

This is my preferred count. I believe we are working on subminuette v now. Though the triangle count is still not out until 1157.16 is breached, the odds of that count has gone way down.

As pointed out last night, I'm looking for 1158 - 1173. Hmm, 1158, where have I seen that number before.

I'll try to keep the structure updated to see how this wave v plays out.

7:12 AM Update
7:12 AM - 5 Min

Here's the current count as I see it on the 5 min. The odds are increasing that we are in wave v up and that wave iv was put in yesterday as a running flat as speculated at EOD yesterday.

I say this because if this were subwave [D] of the triangle, it has now retraced subwave [C] by almost 80%, which is a little too high for the typical retraces in a triangle.

6:42 AM Update

I'm gonna add that this am's pop could be subwave c of subwave [D] of the triangle. One little pullback for subwave [E] and then we pop for v.

6:30 AM Update

I'm a little disappointed that I missed the nested 1-2 setup going into the close yesterday. As I pointed out the 30 and 60 min MACD was turning up.

I have a feeling my wave iv ending yesterday count from yesterday's post may take center stage today.

Ok. Gotta trade
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