Thursday, January 27, 2011

1/27/11 - EOD Update

EOD Update


The market broke through 1300 a few times today but could not close above it. I'm still watching the chart above with each of the 4 options in order of preference.

OPTIONS:

1. 4 ENDED AS A TRIANGLE (RED e) WORKING ON WAVES 1 AND 2 OF 5
2. 4 ENDED 1/7 AND WORKING ON WAVES 1 AND 2 BLUE OF V of an ED.
3. 4 ENDED ON 1/20 AND ONLY WAVE 1 OF AN ED FORMED (GRAY).
3. 4 MAY BE WORKING A FLAT (GREEN LABELS)




Here is the update to this chart posted yesterday. I'm not top calling here but just pointing out something of interest.

Well today was the 7th day from the last MACD spike high and MACD is curling up on the underside of it's signal line. Will be interesting to see if tomorrow fails like it did in Apr.

It even traded in a 7 point range very similar to the 9 point range in April. Makes you wanna go hmmmm.....
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