Friday, February 22, 2013

2/22/13 - EOD Update

5 min 
I updated this chart through out the day. So far short term, I'm leaning for the bears.

We'll see if [ii] wraps up early Monday. So far the bounce is overlapping and at 50% retracement. Wave [ii] could go as high as 78% but lets see what it does at 62 first.


60 min 
Still looking for at least another leg down if (iv) is playing out. However, keeping in mind something more bearish could be in the works.


Too obvious? Maybe but it is lining up with the short term count.

Weekly
No shooting star candlestick but watch the MACD histos and trendline. Things are slowly turning.

Have a great weekend!
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