Monday, February 14, 2011

2/14/11 - EOD Update [10:09 PM Update]

[10:09 PM Update]

Just thinking about some optional counts to consider. It is possible a wave 4flat is in the works and/or possibly a triangle. I have highlighted some trendlines and levels wave c may target should this still be a part of wave 4 black.

A breach below the horizontal line representing the top of wave 1 black and one should consider this count invalid.

Or this.

[8:43 PM Update]

It appears that a triangle may be forming on ES. Still a little too early, but if it is, this may be the count.

EOD Update

Sorry, this is all I have time for today. Need to do my husbandly duties for today.

I think the ED is the best fit and it looks like it is almost complete. 1334ish is the max. Sorry didn't calculate the actual distance of wave 3. Suffice it to say, if the market pushes above 1335 tomorrow, the ED as it is counted will be out since wave 5 will be longer than 3.

I do have a more bullish count but won't really address it until it materializes above 1335. The 30 min macd is sporting a sell signal and triple negative divergence. I'm thinking a pullback may be in store. How much we'll have to see should it be the start of a larger wave 4.

1333 was the top of the channel I was watching. Today's high printed 1332.96. Pretty darn close. We'll see what she wants to do tomorrow.
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