Thursday, July 25, 2013

7/25/13 - AM Update

Nice. Looks like we got our wave iii put in. Now focus on the red line for the bears. They need to hold this to attempt to put in a larger five wave decline.

Also note a potential for a larger H/S (orange). They nailed the purple one so this is a first in a while.

** I didn't place it on the chart but if the bears really want it, there may also be a potential for a nested 1-2 i-ii down. Wave ii would be the right shoulder in orange. We'll see.

5 Min - 6:58 AM

Looks like the SPX is set to open lower, which most likely will put in wave {v} of iii. After that, we'll see if there can complete five waves down.

5 Min 

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