Friday, October 4, 2013

10/4/13 - EOD Update

No real resolution for either the bulls or the bears. The market continues to chop up and down so the triangle I proposed as one of the options is still in play.

The market has closed below the 20 day SMA for a 2nd day. The bears have two options in their favor.

The short term options (purple, red and green) are still in play. The bulls may have a case for a decent five wave move off yesterday's low. However, this could simple represent a five wave move for a wave c of the purple triangle or a wave c of the running flat for the red option.


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