Wednesday, June 5, 2013

6/5/13 - AM Update

Bounce at the trend line and now 15 min + divergence. Most likely (iii) is complete or c of Y.

15 Min - 10:37 AM

Here's an interesting target if the bears continue with their count.

60 Min 

The bears finally broke thru the lower TL. Even resisted on the backtest.

Still watching for any short term + divergence but bulls should be cautious tho.

15 Min - 9:15 am

Best bull case is a WXY corrective with Y potentially forming an ending diagonal itself. As for the bears, they need to flush this below the lower TL here to get the iii of 3 going

`15 Min- 7:20 AM

Forgot to mention the falling wedge look to this pattern. May also be a leading diagonal. Either way,  we should watch for a break out at some point if it doesn't touch the lower trend line one more time.
15 Min  - 6:44 AM

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