Monday, June 18, 2012

6/18/12 - EOD Update

Looks like the market has now backtested the 50 day SMA as anticipated. Now the question is what does it do right here?

Below are the near term count options.

15 Min 
Green is looking to complete wave 3. Red is looking to complete wave c and blue is looking to set up a very bullish nested 1-2 {i}-{ii} up.

The blue count option is the one to follow should the market fulfill the inverted h/s target and blow through the 50 day SMA.
50 - 200 DAY SMA



DJI - 60 Min
I have the DJI on the same count as the SPX green option.
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