Monday, February 24, 2014

2/24/14 - EOD Update

[3:55 PM Update]

Wanted to add a variation to the red count. Something more bearish.

3:55 PM

[EOD Update] The bears were squeezed past the all time high for the SPX. However, sellers stepped back in to close it below. The 15 min and 60 min charts are still slightly different.

The 15 min now has a clear level to watch to confirm whether this leg up is complete. A (iv) - (i) overlap will provide that indication.

The 60 min is still looking for a larger pullback before resuming higher. One thing to watch is the daily chart's count. Technically all 13 waves up may be deemed complete.

We'll see.

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