Thursday, August 7, 2014

8/7/14 - EOD Update

The market indeed was attracted towards the 1900 level as suspected.

Short term bulls need to step in and bounce this. As you can see though per the red count, this would just be a wave c bounce for an expanded flat.

Two other options to consider are in blue,  the larger double zigzag and yellow,  which is isolated on the 60 min chart below.

5 Min

60 Min

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