Monday, February 25, 2013

2/25/13 - EOD Update

This was a nice EW set up folks. Last Friday I posted that [ii] would wrap up early today and that 78% retracement could be a target if 62% failed.

Sure enough, right near 78% the market reversed. Earlier in the day I tweeted that the first little leg down may have been suspect for the bears so keep an eye out for a potential C wave of a triangle due to the overlapping structure.

However, that structure now may be treated as a potential coiled spring and I believe a 3 of 3 event may have begun today.

5 Min 

60 Min 
Some Fib targets for this leg down.
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