Friday, October 11, 2013

10/11/13 - EOD Update

The bulls were strong again today. Because of this strong bounce I have made some adjustments to the 15 min chart below.
3 Min 

15 Min 
The red option has been removed because the move since the 9/18 high looks more corrective than impulsive.

The green option has been brought back and is the preferred one at the moment. It meshes well with the daily chart I have been posting below.

Not sure what to make of the purple option yet other than a possible larger double zigzag down off the 9/18 highs. The strong bounce would represent the beginning of a larger wave x.  But I'm not too sure.

I'll stick with the green option and daily chart below for now.
Daily

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