Thursday, February 21, 2013

2/21/13 - EOD Update

The bears followed thru with their plan to create a larger degree five wave move down.

5 min 
Two options here. Primarily looking for a wave (c) of [ii] bounce into tomorrow early before resuming lower. 1510 may be a good target since that lines up with the 20 day SMA, 38% Fib retrace and (c) = (a) of [ii].

The other option is that a more bearish nestd 1-2 i-ii down is in the works and the floor drops at the open tomorrow. Note the sub alt for the bearish nested 1-2 as well.

60 Min 

blog comments powered by Disqus