Friday, May 9, 2014

5/9/14 - EOD Update

The daily chart (MACD) has me thinking this rising wedge may be coming to an end sometime next week. However, before that happens, I believe a wave c of iii is set to march higher first early next week based on the hourly chart.

Its probably good to respect all the wedging trend lines here. Should the market gap up higher starting next week, I will be watching the 1900-1920 (top of the wedge) level as a target.

Happy Mother's Day to all you moms!

60 Min 


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