Wednesday, September 10, 2014

9/10/14 - EOD Update

I don't know. Still a lil uncertain to me what the direction may be.

This market is still trading in that range (1990-2000) I mentioned a while back. So given that I would lean towards the bulls  unless the bears take out the 20 and 50 day SMA.

Below are the counts for each case.

5 Min 
 Based on the 5 min view, the bears may be forming a running or expanded flat for wave ii.

60 Min 
 Based on the 60 min view, the bulls are forming a falling wedge for wave iv. Bears have the head and shoulders in the background.

This long term weekly view may have a potential ending diagonal forming for wave 5 of [3].

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