Tuesday, October 7, 2014

10/7/14 - EOD Update

[8:03 PM Update]- Keep an eye on the purple count. That is a very viable count. This was something I was watching last week but got rid of it but I think it is worth noting again.

8:03 PM - 5 Min 

[EOD Update] - The bears are on the attack and the bulls have to defend 1926.03 or the bull counts will be invalidated on the 5 min chart. I have the bears working on a nested 1-2 down because the triangle everyone was watching today had wave a overlap into wave 1. So I think a more bearish count may be in order.

If the bulls do not step in here, 1900 would be the next logical level. This would set the neckline for a much larger H/S.

I will post the daily chart tomorrow or later on during the week. I am preparing some alternate counts.

5 Min 

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