Tuesday, October 21, 2014

10/21/14 - EOD Update

[7:22 PM] - ES Update
7:22 PM - ES


[EOD Update] -The bulls recaptured the 1926 level and have now wiped out the bear's impulse count potential.

The 5 min chart shows a wave -iii that could be extending to the top of the inv H/S target (1965-1970). If not, I have a feeling wave -v will get there, which would coincide with a backtest of the 50 DMA.

Note that a larger inv H/S may be in the works with the neckline set at 1970 with a right shoulder that may tag 1925.

The daily picture shows a MACD crossing up from oversold levels. Just a reminder of the range I have been talking about between 1825-2020. We could be seeing a test of the ATHs in what may be a flat or triangle in the works for wave (4).

5 Min 

60 Min 

Daily

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