Thursday, October 9, 2014

10/9/14 - EOD Update

Busy day today so didn't get to see the bulls get massacred. I will be traveling tomorrow so no charts from me. Possibly a few tweets but that is about it since I will be counting real waves in the Pacific.

I see three options below:

Red - A bearish setup here which is calling for a gap and go down for wave {iii.

Purple - Hanging on by a thread. If yesterday's low is taken out, this count is out.

Blue - A triangle in play. Wave c may not be complete yet since it does not look complex enough. However, wave d can also be the complex wave.

Two out of the three options (blue and purple) are looking for a bounce.  If yesterday's low is taken out, then we assume red is the preferred count until new alternates are recognized.

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