Tuesday, October 1, 2013

10/1/13 - EOD Update

The decline since the 9/18 high is best counted as a corrective wave. The bounce off yesterday's low is looking like it will be a five wave impulse wave up.

The last bearish option is a nested 1-2. It will be invalidate if the market takes out the red horizontal line.
15 Min 

This is a daily view of the weekly chart I have posted highlighting a large extended wave off the 2009 lows.

Since October 2011, the wave could be counted as a 13-wave extension (in red). This could end as an ending diagonal or extend by a few more waves via the black options.
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