Monday, July 9, 2012

7/9/12 - EOD Update

5 Min 
 It sure looks like a triangle is forming down here. Three options on the 5 min here.

I'm still unsure of the red option here because wave i red does not look or count impulsive. However, if you look at this structure on the 60 min it sure looks like there are five waves down in the works with a wave iv triangle.

Bear
 A new low below 1374 will certainly give it a five wave appearance at this timeframe. If that happens, the wave (2) at 7/3/12 may just be the count.

Bull
The bulls can't seem to get anything going impulsively up. However, they still could be trying to get one last poke at the upper TL of the rising wedge. We'll see.
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