Friday, July 15, 2011

7/15/11 - EOD Update [2:34 PM Update]

[2:34 PM Update]

I updated the hourly chart below.

EOD Update

A very good chance wave 4 of Minute 5 completed today and wave 5 of Minute began. If you were following the daily alternate, then wave [e] of Minor 4 completed.

The primary count is that the market is working on completing wave 5 of 5.

This would be the top alternate count should we see one more pullback early next week.

An hourly view with a few other options.

The 30 min positive MACD divergence is one of the reasons why I lean toward wave 4 of Minor 5/wave [e] of Minor 4 completing today.

Gotta run for now.
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