Friday, August 29, 2014

8/29/14 - EOD Update

I think the flat (in yellow) may be something to keep an eye on. I don't really like the wave structure off yesterday's low. Certainly looks more corrective.

It would also make sense to see the market base around the 1990-2k level before pushing higher if that is what it intends to do.

5 Min 

60 Min

8/29/14 - AM Update

[9:12 AM] - Here's that potential flat (in yellow) I was referring to earlier.

9;12 AM

[7:48 AM] - Possibly a triangle for wave iv? If not, a potential flat.

7:48 AM

Thursday, August 28, 2014

8/28/14 - AM Update

[12:24 PM] - We'll see if wave [iii of v is underway.

12:24 PM

[8:30 AM] - Looks like a good wave iv.

8:30 AM

Wednesday, August 27, 2014

8/27/14 - AM Update

[7:17 AM Update] - We'll see if wave iii is complete.

7:17 AM

Tuesday, August 26, 2014

8/26/14 - AM Update

[7:17 AM] - I guess she's still extending.

7:17 AM

Monday, August 25, 2014

8/25/14 - EOD Update

This is what I'm looking at right now. I've updated my daily chart. Previously I had the option that wave 5 of [3] was complete or just wave i of 5 of [3]. With the new high, the best option is wave iii of 5 of [3] is underway.

I removed my only bear option. Will have to wait and see if something develops that will favor a bear count. Otherwise, we'll see if .

5 Min 


8/25/14 - AM Update


5 Min 

Wednesday, August 20, 2014

8/20/14 - EOD Update

I like the squiggle counts on the 5 min chart. Per the blue count, wave {iii of iii may have completed today.

The yellow count, however, has wave {c of y of a double zigzag complete. One thing to note is that wave y = w at 2000.

We'll see if the bulls can make a new all time high, otherwise, keeping an eye on a potential double top here via the yellow count.

5 Min 

60 Min 

8/20/14 - AM Update

[10:31 AM]- The previous wedge is no good but another one may be forming.

10:31 AM

[8:13 AM] - A possible lil ED up here.

8:31 AM

8:31 AM

[7:20 AM] - Keeping an eye to see if wave {iii is complete.

7:20 AM

Tuesday, August 19, 2014

8/19/14 - EOD Update

We'll see if wave {iii is complete or if it wants to extend some more.

5 Min 

Pretty much at the inv H/S target.

60 Min 

8/19/14 - AM Update

[10:12 AM] - This wave {iii continues work higher and is now approaching the upper end of the blue channel and where it intersects with the purple trendline (6/12 and 7/17 lows).

The double zigzag in yellow is still in play but I will give the edge to the blue count. Let's see if wave {iv is in the works now.

10:12 AM

Sunday, August 17, 2014


The bears failed to seal the deal with a larger impulse wave structure down. On Friday, I felt the market was going to close green even with the Ukrainian news. It just felt like an opportunity to buy that news.

It didn't quite close green but close enough and now the more bullish count is a nested i-ii {i-{ii wave up in blue. The bears only count is a double zigzag bounce, which implies a little more upside before heading back down.

We'll see what happens and adapt as usual.

1 Min 

5 Min 

Friday, August 15, 2014

8/15/14 - AM Update

[9:33 AM]- The bears failed to defend a larger impulse down so far. The falling wedge needs to be watched. Here is an updated red count option.

9:33 AM

[9:04 AM]- Need to keep an eye on this falling wedge potential.

9:04 AM

[8:59 AM[ - Sorry had to add the last bull option in blue.

8:59 AM

[8:56 AM] - This count has taken over.

8:56 AM - 1 Min 

8:56 AM - 5 Min 

[8:45 AM] - Added the red count for the bears. I think so long as the 20 day SMA holds, the bulls have a chance to close this green, however, the red count is fairly legit.

8:45 AM

[8:03 AM] - With the {iv-{i wave violation, this is the bull's best count if they want to buy the Ukrainian news.

8:03 AM

[7:35 AM ] - For all you squiggle junkies.

7:35 AM

[7:01 AM] - Finally got that wave {iii breakout. Watching the upper end of the blue channel and the 1968 level.

7:01 AM

Thursday, August 14, 2014

8/14/14 - EOD Update

The bulls closed it over the 20 day but just under the 50 day. Daily MACD is about to cross up.

Hopefully we'll get some clarity as to the very near term direction. That rising wedge is still containing price so anything goes. I favor a break out over the 50 day tomorrow, however, am prepared if it is rejected.

5 Min 

Daily BB

8/14/14 - AM Update

[8:41 AM] - Need to keep an eye on the potential rising wedge now. The yellow count has become suspect since wave {iii has not yet blasted higher. It still can but if it does not, the rising wedge becomes a factor.

8:41 AM

Wednesday, August 13, 2014

8/13/14 - EOD Update

Let's see if the bulls can muster up a wave {iii of c to challenge the 50 day SMA. Note the 20 day has cross down and thru and currently sits at 1952.

I will also keep an eye out for any potential rising wedge.

5 Min 

60 Min 
Will the inverted H&S play out?

8/13/14 - AM Update

[12:10 PM] - Let's see if a wave {iii of c is setting up here. If you missed the boat on that previous dip, this may be another opportunity.

12:10 PM

[7:10 AM] - Here is a projection for wave c yellow. It equals a at 1968.

7:10 AM

Tuesday, August 12, 2014

8/12/14 - EOD Update

I think the best count at the moment is the double zigzag for wave b yellow, which forms the right shoulder of an inverted H&S.

As posted earlier today, the wave structure is complex so it fits best as a corrective. It may even chop around some more and may target the lower end of the blue channel.

As suggested earlier this AM, this was probably a buyable dip. Lets see if this trade works.

5 Min 

8/12/14 - AM Update

[9:07 AM] - I haven't forgotten about the bears. However, keep in mind the current [i-[ii-[iii red count can easily be substituted with an a-b-c. The difference will be whether the bears can make waves [i-[ii-[iii[iv[v without a wave [iv overlap into [i red.

9:07 AM - 1 Min 

[8:21 AM] - Forgot to mention the potential IHS forming too.

8:21 AM

[8:11 AM] - This is how I'm counting the yellow count for wave b yellow.

8:11 AM -1 Min 

[8:02 AM] - Here comes wave b yellow or [iii red. Buyable dip?

8:02 AM

Monday, August 11, 2014

8/11/14 - EOD Update

Let's see if tomorrow the market provides a buy-able dip to trade using the yellow count. Looking to buy at the wave b (yellow) low.

1 Min 

5 Min 

8/11/14 AM Update -

[11:28 PM] - Looking good as a wave {iv so far.

11:28 PM

[6:56 AM] - The 1 min view if you need it.

6:56 AM

[6:41 AM] - So far only three waves on this bounce since last Thurs (8/7).

6:41 AM

Saturday, August 9, 2014

Longer Term

I haven't posted my longer term charts in a while. However, given that we now have a pretty decent five wave structure down from all time highs, I figure it will be worth looking at what this could be the beginning of.

Based on my longer term charts, it is not the end of the world but we should take note of a more substantial move lower for a wave [4]. The broad target for this move would be anywhere from 1800-1650.

Being that these are longer term charts, we'll just have to monitor the wave patterns as they progress. Note on the daily, there is a bullish alternate that would allow wave [3] to extend higher so new highs would mean that option is most likely playing out.