Wednesday, February 19, 2014

2/19/14 - EOD Update

The bears showed up near 1850 today. The question is can they build on this and target the 50 day SMA (1815) below? This is pretty close to the H/S target as well.

Earlier I tweeted that the initial move off the day's high was a three wave structure. I still believe this is the case and hence I have marked the first decline as a wave 'w'. So if the bears are to push this lower,  a larger combo corrective must be a structure to look for.

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