Thursday, July 26, 2012

7/26/12 - EOD Update [8:45 PM Update]

[8:45 PM Update]

ES appears to be tracking along with the green cash count. We'll see what the overnight brings.

EOD Update 

Its nice to see the market tag 1350 and more as suspected yesterday. The market also managed to close back over the 20 day SMA.

The move also helped dwindle down the count options down to 2 on the 10 min chart.

I'm keeping an eye on the weekly MACD here as it is turning bullish but wait and see first for a cross.

10 Min 

Green is working on five waves up with and extended wave 3. Black considers the move out of the diagonal as complete.
The 10 min black option correlates with the bear count above.
The 10 min green count option correlates with the bull.

Complex Corrective
And introducing another option that favors a push higher, however, only treats the move off the 1266 low as corrective.
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