Thursday, February 9, 2012

2/9/12 - EOD Update

There's no denying that this rally is getting long in the tooth and the fact that this looks good as a wedge. The question is what stage is it in if this is an ED?

30 Min
I like the fact that whether you count this entire structure as 9 waves or 13, they both assume the same thing, there should be one more leg up.

If 13 waves, one more is needed since I see 12 waves into the close. If counting this as 9 waves, notice that the wave structure after wave [8] can be treated as one last wave as an ED to complete 9 waves?

5th ED
Here's the option looking for one more wave up.  See below though should we see selling right out of the gate tomorrow.

ED Complete
This could technically be considered complete. Until it breaks down below the lower TL, lets go with the above.

ES
ES may be looking for 1 more push up to towards the 1353-1362 zone.
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