Monday, October 15, 2012

10/15/12- AM Update [9:15 AM Update]

[9:15 AM Update]

Here is the cleaned up version. I had to relabel green to adjust to the 4-1 overlap that occurred last week.

Per the green option, the double zigzag is complete with a truncated wave 5 to complete wave C of Y.

The orange option, however, is the bull's best count at the moment.

Bulls need to jump this back into the ascending blue channel or a possible failed backtest of the lower channel is in the works.

AM Update 

I didn't get a chance to update this chart over the weekend but just focusing on that red falling wedge right now. That would fit nicely as either a wave c or y ending diagonal. 
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