Thursday, July 5, 2012

7/5/12 - EOD Update [4:30 PM Update]

[4:30 PM Update]

5 Min
Here's a 5 min squiggle view clearly showing a corrective pattern playing out. The bears may get one little dip  to fulfill the h/s potentially setting up here, which is also the 38% retracement of wave iii on the bear and bull charts below. Keep in mind the triangle on the 10 min below though so take the h/s with a grain of salt.


EOD Update

I apologize for any delays in commenting today in the new chat room. I believe this issue should now be resolved.

You can find the room by clicking on the "Real Time EW Analysis" link at the top of the blog. I hope to be in the room more moving forward.

10 Min 
If I get a chance to look at the squiggles that may indicate otherwise I'm leaning towards wave iv playing out here since the move off Tue's high counts best as corrective. Whether the iv becomes a tri or a flat, we'll know tomorrow.

Bear
 As stated above, most likely a wave iv in the works.

Bull





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