Tuesday, June 11, 2013

6/11/13 - EOD Update

Here's a long term count I presented a while back almost a year ago. Either Grand Super Cycle 5 is ending as an ED or Super Cycle 1 is a huge leading diagonal.

Of course the most bullish option is that wave 5 is in the middle of extending through it's Cycle 3 wave.

Just something to consider.

Just wanted to add the daily BB chart. Note the rejection this time at the 20 day SMA vs the previous three moves.

Daily BB

The market took everyone for a ride today. Looks like the right shoulder for the inverted H/S may have been set today.

I'm still looking for a another leg higher whether it is for wave C black or wave (III) blue. In the meantime, wave B black or (II) blue may still be in progress.

We'll see if the bulls stage a comeback tomorrow.

15 Min 

blog comments powered by Disqus