Monday, June 24, 2013

6/24/13 - EOD Update

A little uncertain at the moment short term.

The bears continued the selling but the bulls tried to make a comeback today.

The counts have been adjusted and are now looking more bearish short term. The only caveat to that at the moment is the hrly MACD buy signal and shorter term + divergence. Per the 60 min chart below, [Y]=[W] so we'll have to keep an eye on the bounce should there be one tomorrow.

If there is no bounce, the bears may be launching a wave iii of C down or iii of 3 down tomorrow. Taken out today's low would be a good start.

15 Min 

60 Min

blog comments powered by Disqus