Tuesday, August 27, 2013

8/27/13 - EOD Update

As I posted Monday, the red option is right on track and it appears that wave v of 1 is nearly complete. Still unsure if it will throw-under the lower channel but a bounce for wave 2 should be coming up.

In the AM Update, I mentioned that this is the first time in a while the bears have been able to print a clear five wave move down at a much larger wave degree. Lets see if they can follow through with this.

I introduced the purple option yesterday and it is more bearish so we should keep an eye for another potential flush below the blue trend line if this option is in play.

The green option is in last place here but we'll keep an eye on it too in the event that this was just a mere double zigazag.

60 Min 

blog comments powered by Disqus