Thursday, May 15, 2014

5/15/14 - EOD Update

Things should get interesting pretty soon here. The bulls and bears both have a strong case for their counts.

The bulls stepped in at the 50 day SMA again today. The bears have a MACD cross with -ve divergence so not sure how many more times the bulls can save the 50 day.

We should know soon enough who wins. Going to give a slight advantage to the bulls because I'm still looking for at least a bounce here at the 50 day.

The bears also printed a larger degree five waves down. So if we bounce, we'll watch for a corrective vs an impulsive structure.

Bull's Count


Traingle


Bear's Count

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