Monday, November 4, 2013

11/4/13 - EOD Update

In last Friday's AM Update I suggested that a buy the dip for a trade was setting up. So far that has worked out nicely. That has worked out well for about 14 points.

The bulls shouldn't get too excited yet though. On the 5 min chart below, I am watching for a potential flat in the works. Note the green zigzags I have placed on the chart?

(3)=(1) at 1776 and that would make for a potential wave B should the market find a reason to reverse here and head back down to 1750.

5 Min 

Daily

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