Tuesday, September 10, 2013

9/10/13 - EOD Update

Wave 2 red is still in progress and now beyond 62%. Yesterday I mentioned that I questioned the green option and that a potential triangle may be a better explanation for the bullish case.

I have added the purple option to the 60 min chart below.

60 Min 

I posted the daily triangle yesterday. In the past, when I have posted charts like this, the upper trend lines were always drawn arbitrarily and based more on an expected form. This is the case once again.

However, in those instances, more times then not, when they do turn out to be triangles, I have found that the lines usually are spot on. We'll see if this is the case again.
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