Thursday, October 2, 2014

10/2/14 - EOD Updated


I wonder if tomorrow will be a buy a Yom Kippur moment. I have an inverted H/S pattern setting up for a rally to 1975 on the 1 min.

The daily chart still supports a good completed wave iv for my ED.

The bears still have their extending wave count on the 5 min. The bulls need to clear 1966 (blue horizontal line) to create another overlap, which would bring into question a larger degree five wave move down for the bears.

If 1966 were to be cleared, the next best count for the bears is a large degree nested 1-2 i-ii down. If this becomes the bear's best count, the bulls need to take out 1985, which result result in wave ii retracing beyond the start of wave i.

I bought the lil dip today after the five waves up completed on the 1 min chart. We'll see what happens tomorrow.

1 Min 

5 Min 

Daily

60 Min  H/S
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