Thursday, September 25, 2014

9/25/14 - EOD Update

Lots of options near term. I have presented many scenarios, which for the most part, makes it difficult to determine where they may be going near term.

The 5 min chart shows a more bearish view, that being a wave [iii of iii down coming up.

[1:45 PM] - Here is the full view of my daily chart showing all 13 waves for this extended structure.

1:45 PM - Daily

[EOD Update] -However, I still like my daily count. As I posted last Fri, I suspected that wave iii of the ED was complete. So far, this looks like a good wave iv down with a potential falling wedge look to it. 

If this is a wave iv, I'd like to see it find support near 1960 (green TL) or 1950 (purple TL)  if the market wants to take it down some more. 

5 Min 

60 Min 
 The hourly showing the close up for wave iv targeting 1960.

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