Monday, October 3, 2011

EOD Update [10:00 PM Update- AAPL Done? Copper Bottom?]

[10:00 PM Update- AAPL]

AAPL may be done.

20 Year

5 Year - Close up


HG - 60 Min
Wave Y of HG may be wrapping up here with an ED. Keep an eye out for this. The bigger picture is just below.
HG - 5 Year



[4:50 PM Update]

Red Count1
Here's the original red count I'd been tracking before coming up with the ED count for C yellow. This is the same chart as the "A Pretty Bearish Chart" count at the bottom of the page.

It goes without saying that the bears are in control. From a trading range standpoint, the market is back to the lower end and at midpoint of a larger range. Can the bears push this further down into the bottom half of larger range towards the 1010 level?
Range

VIX
The last VIX equity buy signal failed. VIX closed outside of it's Bollinger Band today. Will this signal fail again? Let's keep an eye on that hanging man candlestick.

EOD Update

It should be obvious that the red count is now the primary at the moment. Based on my 15 min chart below, it is very possible wave iii of this ED is complete.

The alternate here is that wave ii may still be in progress as a very large expanded flat.
Red Count2

15 Min
Below, is an attempt at counting an impulse wave down starting from 9/27. If this is correct, see the very bearish count below it.
5 min

A Pretty Bearish Count
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