Monday, September 9, 2013

9/9/13 - EOD Update

The purple option was ruled out today. The red option is still looking for the completion of wave 2 red within the range I have pointed out (1658-1677). The market is close to the upper range, which so happens to be the 62% retracement of wave 1.


60 Min 
I still don't really like the green option above since the bounce off the 8/28 low looks too corrective to me. What I do like better if the market is set to continue higher, is a potential triangle in the works that began late June of this year. See the daily chart below.


Daily

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