Wednesday, February 26, 2014

2/26/14 - EOD Update

I made some adjustments during market hours and so far there is a good chance this is the path the market is taking (first 60 min chart below). At least that is what I will go with for now.

 I like the possibility of a wave c or iii lower towards the 1830-1820 level especially because there is still short term -ve divergence.

I will add that the churning up here leaves room for many other options so hard to say for sure what is really going on. Some other patterns I'll be looking for:

1.  A potential Ending Diagonal that is not yet complete
2.  Another version of a triangle up top here that needs more time to play out.

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