Friday, August 31, 2012

8/31/12 - EOD Update [FB Update]

 [FB Update]

An update to my FB chart. So far looks good. I first introduced this chart on 8/25/12.

**I removed the DJI chart because the count was incorrect due to a glitch with the data feed as pointed out by Amos below. I have not had time to update this count though.** 

EOD Update
60 Min
Still no resolution after Benny's address today. I have reverted back to the StrategyDesk chart and added the red option for some more near term options.

I favor the black and then red count here because the move off yesterday's low does not look impulsive to me. Plus MACD continues to trend lower. Will it respect its trendline once more here or will it break through given the green count a chance?

A second day below the 20 day SMA.
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