Sunday, August 17, 2014

8/17/14

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.

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