Tuesday, January 6, 2015

1/6/15 - AM Update

11:58 AM- Lets see if the blue count is working on one final wave ({5)  down to complete [c or all five waves down for red is complete and set to bounce at 2000 here.


11:58 AM - 5 Min 


9:20 AM - Looks like the bears have now created a larger degree five wave move down. I have adjusted the 5 min chart accordingly.

I am posting the daily chart to highlight the possibilities I am tracking. Given the five wave move down, I have to learn towards the bear side.

However, because the daily chart highlights several possibilities that implies lots of chop to come, we should be looking for a range to trade.

Let's see if 2000 provides support here and a bounce.

5 Min 

Daily

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