Wednesday, April 9, 2014

4/9/14 - EOD Update

On Monday I posted two running flat options. I wanted to see the market's reaction at the 50 day first.

So far it has bounced off the 50 day so the two running flats are very good count candidates. The only thing that concerns me at the moment is the wave structure off the 50 day so far.

It is a little difficult to count as impulsive so far. See the 5 min chart below. If it is an impulse, it will be one that subdivides since the initial wave structure looks like it is overlapping.


5 Min 

60 Min 

Daily

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