Monday, January 5, 2015

1/5/15 - AM Update

10:57 AM - We'll see if it holds here.

10:57 AM - 5 Min 

7:39 AM - Looks like the bears wanted to launch wave iii down afterall. I added the alternate bear count as well.

The market is now below the 50 DMA with a daily MACD bear cross. Keep in mind the RUT chart I posted over the weekend.

From a bullish perspective, the corrective count has now reached an appropriate Fib retracement level.

I will stop out of my longs below the 62% retracement level.
7:39 AM - 5 Min 

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