Sunday, December 15, 2013


Going into Friday I assumed there was a good chance a bounce was in store. As the trading day progressed, the triangle pattern I posted was indicating a continuation to the downside if the bulls do not step in.

Keeping things simple on the hourly chart below. The bulls need to defend 1729 to preserve the impulsive count. The bears (and bulls just not below 1729) have some extension targets between 1756-1722 if wave iii is in progress.

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