Friday, February 25, 2011

2/25/11 - EOD Update [2:43 PM Update]

[2:43 PM Update]

Here's an update to the five wave impulse down count.

Here's the corrective version. Target of approx 1325-1328.

EOD Update

Daily Primary

Looks like wave (b) began as expected. The market closed right around that lower channel. Is (b) of [4] complete yet? I'm not so sure. I believe at least one more little push towards 1325 is in store.

From there, we'll have to see if the bounce represents only wave a of (b) or if it was all of (b).

5 min

An ascending triangle looks to be in the works and the count supports another push towards 1325. The ascending tri target also marks 1325 as the target. We'll see.

Daily Bollinger Bands

A pretty decent bullish candle there off the lows. The market closed back above the 20 day MA as well.

A possible repeat?
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