Thursday, May 15, 2014

5/15/14 - AM Update

[7:19 AM] - An isolated view of the triangle. Wave e has reached 38% of wave d. Daily MACD is bearish tho and continues to diverge so we'll see.

7:19 AM

[7:06 AM] - Its not over for the bulls yet but the bears are certainly making an effort to make a statement. The short term bull case is in jeopardy per the yellow count on the 5 min chart.

However, if we pan out to the daily, the green triangle I presented is still certainly a viable option for the bulls and something that would trap any bears looking to capitalize on the recent sell off.

7:06 AM

7:06 AM

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