Tuesday, May 29, 2012

5/29/12 - EOD Update

Bull Option
For the bull option there blue and green sub options.

Green has a leading diagonal in the works off the 1291 low where wave [C] completed. The issue with this count is that wave iii of the LD is slightly larger than wave i.

The blue option has wave 4 blue completing a zigzag with an ending diagonal for wave c of 4. See the 15 min chart below for this potential count.

If the bulls manage to break over 1343, there is a greater chance that the correction that started on 4/2/12 ended at the 1291 low on 5/18/12.
15 Min 
Once again I have highlighted 2 sub options on this chart.

The green option has a form of an ED playing out.

The red option is looking to complete an ED for wave 4 for either the 60 min bull or bear count.
Bear Count
The bears need to control a move above 1343 or this count as presented above will be ruled out.
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