Monday, March 21, 2011

3/21/11 - EOD Update

EOD Update


Here's the daily view with the four primary options in order of preference:

1. Minute [5] underway with a nested 1-2 count up.
2. Wave (x) of [4] is underway
3. Wave (x) of [2] of Minor 3 is underway
4. A bearish nested 1-2 down.

I think 1315 looks like a good potential target near term (next day or so).

15 Min

Some inverted head and shoulders targets.

A possible path the market may take if the various options play out.


The impulse down count was ruled out today, however, one last option for the bears exists as a nested 1-2 down. Until it proves itself, it is but an option until proven otherwise.

This chart has come in handy. The behavior of the market continues to mimic the Apr market. If this continues, the market will rally at the open tomorrow and then close in the red.

This would support options 2-4 so we'll see what happens.
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