Friday, February 28, 2014

2/28/14 - EOD Update

[8:58 PM] Just wanted to add the TNX chart.


[EOD Update] For a moment there I thought the bears were gonna steal the day from the bulls. Probably day traders shorting and covering before the close.

I'm posting a few more charts today because I'm still unsure where this is going.
I'm gonna give the bears a slight edge going into next week. Something about the late day reversal that may be telling along with a few other things below.

If the bears are showing up next week, then the 5 min chart above should have a wave iii down start early next week.

5 Min - bull
Based on today's reversal and if you believe in the bullish 5 min view, this count may make more sense if there is to be more buying next week.

The triangle pattern in this case may be a clue that the final thrust up today completed the leg up from the 2/5 low. I see a potential for a triple -ve divergence on the daily chart below and quite possibly 13 waves completed for the weekly below.



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