Monday, August 22, 2011

EOD Update [2:34 PM Update Primary Count Change]

[2:34 PM Update Primary Count Change]

Please disregard the charts below under the original EOD update.

I've made a change to my Opt 1 and Opt 2 longer term counts. Please see them just below.

Either wave A yellow is complete or one more low will be made below 1101. In fact, as previously mentioned, a double bottom may be in the works if today's move did not complete wave b green of B yellow.

We will see very shortly.

Option 1

Option 1 - 5 Min

Option 2

EOD Update

I still believe there are too many count options longer term. It just may be easier to focus on the shorter time frames until the various options are ruled out.

One thing I do see is a possible double bottom forming in the market here along with a possible ending diagonal to complete the move off the 1356 high.

I'll post some more charts later tonight.

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