Monday, November 21, 2011

11/21/11 - EOD Update

Been extremely busy with work before the holiday break so this comes late and simple.

Both the primary and bearish alternate 1 count are aligned short term. The primary count either has the corrective move complete or the alternate 1 count has wave 1 of 3 complete.

Both are looking for a bounce. What separates the two is how high that bounce will be.

The bears need to hold any bounce below 1215.42 based on the bearish count and the bulls need to bounce over this to discount the impulse count down.

30 Min
This chart shows a second way to count the corrective move down for the Primary count. Based on this, there could be one more dip lower should the labels with ? play out.

Alternate 1
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