Monday, March 30, 2015

3/30/15 - EOD Update

Wave c hit 62% retracement. Looks like there are five complete waves for wave c as well.

The bulls need to defend the wave 'a' high, which would represent wave i, and print five waves off the 3/26 low in order to form a larger degree five wave structure. So if the bull count is working, we should see a lil dip here coming to form what should be a wave iv.

But again, if it dips back into wave 'a' as labeled on the 5 min chart below, then chances are a test and/or break of the 3/26 low should be coming.

At this point, I give the bears a slight edge since I do not count a clean five wave structure off the 3/11 low thru the 3/23 high.

5 Min 

60 Min 
Based on the 60 min chart above
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