Tuesday, October 18, 2011

EOD Update [1:32 PM Update]

[1:32 PM Update]

Once again a possible w bottom setup.Will the 20 week SMA resist near term? Look at MACD. It is about to go bullish. Notice the last weekly bull cross?

Weekly Bollinger Band

Looks like a McClellan -ve divergence. May fit with the completion of five waves up.


EOD Update

Basically flip flopped the counts from yesterday's EOD update. Let's see if this completes five waves up.

There is certainly room for this to extend on and on and that will make it frustrating to count and will not let any folks in who wanted to buy this run.

VIX looks like it may have put in it's corrective pullback so if it is ready to launch higher, this would correspond with the SPX pullback for wave 2/b.



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