Wednesday, June 12, 2013

6/12/13 - AM Update

OK. Last chart for the rest of this AM. I may be back for the close.

I have added a red option to account for a hit down to the lower green trend line. Read the notes as well as to how it would apply for the blue and black option should red play out.

y just about = w now for the current blue count.


15 Min - 9:48 AM 

15 Min with the 5/23 and 6/3 TL in bright green.

15 Min - 9:43 AM

The last mini falling wedge failed. At least there was a clearly defined stop at 1622.92.

Given the updated blue count option, lets keep an eye on this new wedge.

3 Min - 9:35 AM

15 min cleaned up. All the short term options going into today have been eliminated. Back to one option at blue.

15 Min - 9:05 Am

Here's the 15 min chart.

15 Min - 8:55 AM

A five wave structure off the day's high. Note the count in blue and how it would apply as wave c of 2. It also still works towards wave C in red as well so still watching 1622.92.

3 Min - 8:43 AM

Falling wedge watch alert. So long as it holds, may get ready to bounce from here.

3 Min - 8:10 AM

Updated options. A break below 1622.92, changes and eliminates green.

3 Min - 8:03 AM

As I previously posted, there are too many options. Added the light green. The options favor the bulls 3-2 but we'll see.

3 Min - 7:40 AM 

Lots of near term options. Take a gander. I changed the 1 min to a 3 min chart as well.

3 Min - 7:31 AM

A few short term bear options. I added the gold triangle on the 15 min below. Something else to keep an eye on if wave x red takes on this pattern. Again, bulls need to step in here.

15 Min - 6:50 AM

The bulls are set to bounce the market back at the open. One thing to watch is the 1 min red count option. Until the bulls take out 1640.26 (really 1650), this could be a wave c bounce for wave x red on the 15 min chart below.

1 Min - 6:25 AM

15 Min - 6:25 AM

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