Wednesday, May 14, 2014

5/14/14 - EOD Update

[9:39 PM] - Not sure about this count option but something to certainly be aware of if the bulls are taking a break. An ED within an ED. Not sure if this plays out but certainly a count to be aware of and we must be mindful of the ED trend lines.

9:39 PM
This is the main count I'm still watching though.

9:39 PM

[EOD Update]Yesterday into the close I was looking for the decline that occurred today. The market pulled back and back tested the trend line off the 4/4 high. I was looking for a wave {c but it appears that the bears pulled off five waves down.

The bullish case calls for a rally starting tomorrow but if you believe in bear scenario, a bounce should also be coming but more selling would follow.

We'll see if the bulls can tag 1920.

5 Min 

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