Monday, February 3, 2014

2/3/14 - EOD Update

Last week, I was looking for a double bottom or new low at some point to come. Looks like the market really wanted to put in a much deeper new low.

I haven't really had the time to examine the squiggles but from an hourly standpoint, it sure looks like an impulse wave down from the 1850 high put in on 1/15/14.

However, until that wave (1) high is retraced into, this selling could be a wave (4).

60 Min 

Of course this H/S should be watched. The right shoulder could use some more development though. We'll see.

Daily

10 year yield coming up on it's wave 4 target at 38% retracement.

TNX

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