Friday, November 7, 2014

11/7/14 - EOD Update

As I posted over a week ago, I was suspecting that the market would continue to track up the channel and not let in any dip buyers.

The 5 min chart is tracking five waves up to potentially complete wave 5 of (3) on the daily chart near the upper end of the channel. If this is the case, the bears must take out the 10/13/14 low at 1820.66 or else we could expect and extended wave 5 of (3).

5 Min 

Daily

Weekly

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