Wednesday, September 4, 2013

9/4/13 - EOD Update

The red option is right on track. The market pushed higher in a wave c of y of 2. Wave y is now 1.38*w.

The target zone still sits near 1658-1677, however, wave 2 red has retraced enough of 1 to be considered complete.

The purple option as previously labeled has been eliminated but an adjust option has been added. keep in mind, purple and red are ultimately looking for the same thing. Purple is just a tad bit more bearish.  I have the purple line to designate where purple will be completely eliminated.

Note there is still a green option, however, I have not seen a clear impulse off the 8/27 low yet.

60 Min 

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