Thursday, June 21, 2012

6/21/12 - EOD Update

The red bear count certainly stepped up to the plate with today's decline.
The 60 min bull count I had been posting over the past few weeks has now been ruled out and some adjustments have been made.

15 Min 
The red count is in control at the moment.


This is the next best option for the bulls, however, this is only temporary as this count suggests a much larger corrective wave down is in progress.

I forgot to post this chart last night when I was looking at the McClellan reading. This suggests that [1] is complete and [2] is in progress. We'll see and continue to monitor the similarities.
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