Thursday, June 13, 2013

6/13/13 - EOD Update

Outside day as well for the bulls.

Daily

What a bipolar market but we shouldn't be surprised given the volatility the past week or two. After briefly opening lower at the open, the market reversed course off the green trendline as I mentioned in yesterday's post.

The market coiled in a rising wedge pattern that eventually exploded to the upside.

The bulls won one today but they still have some work to do. Getting back over 1648 will be a start. This will put it over wave (I) or (A) and the 20 day SMA.

3 Min 

15 Min 

60 Min 
A nice bounce off the lower TL again.
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