Thursday, October 10, 2013

10/10/13 - AM Update

Three waves down so far. If you are a bear wanting to short this, I'd wait for five waves down first and then short the bounce, keeping in mind the move can still be just a wave 4 in progress.

3 Min - 11:20 AM



The 3 min view. Is it possible a larger degree five wave move has completed? Target for wave 4?

3 Min - 10:19 AM


Don't forget about this chart I have posted a few times now. The TL break may just have been a throw under. So keep an eye on this for the bull option, tho it may be short lived.

Daily - 10:05 AM


Don't ya love it when a plan comes together? So far wave 3 or C has extended beyond 1.618x.

The market currently sits below the lower triangle trendline.

Something to consider is the fact that the market has broken thru the descending channel. I'll take another look for a green option for the bulls due to this move.
15 Min - 10:02 AM

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