Wednesday, September 12, 2012

9/12/12 - EOD Update

10 Min 

Keeping it simple. Last night I mentioned the similarity in the consolidation pattern right before Draghi's announcement. Same appears to be working out here. This was the purple option I presented last night.

Sure looks like a triangle. We'll see. Bennie will provide the catalyst for the breakout or the failure.

Triangles usually mark the end of a wave structure so should this break up higher, 1445-1450 are some targets. This coincides with the TL connecting the 6/19 and 8/21 reaction highs.
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