Thursday, March 6, 2014

3/6/14 - EOD Update

[1:20 PM - TNX] Forgot to post the TNX chart. In addition to the triangle that I'm watching, I added the subwaves (blue) for wave 4. Essentially, the blue count is calling for a zigzag down near 2.5% for wave 4.

Wave b of 4 may test the 50 day SMA first before heading down in a wave c.


[EOD Update]  Not the cleanest 1 min count for the bears but I think it may be time to be cautious here. -ve divergence building again on the hourly.

Bigger picture, I'd like to see the market pull back to the 50 day SMA first before resuming higher, if that is the market's intention. Of course we know the market don't give a damn about what I'd like ;)

So I say going into tomorrow and next week, give the bears a lil love.

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