Monday, July 6, 2015

7/6/15 - AM Update

[8:03 AM Update] - This would be the general plan. If we see a fifth wave up and then a retrace back to 2072-2067, I will take a long position at the wave 2 or b bottom.

8:03 AM - 1 min


[AM Update] - Looks like Grexit has been shrugged off so far by the market and buyers have stepped in at the 200 DMA. Price has also returned to the bottom of the range again.

The bears are not out yet. Looks like there should be one more bounce to challenge 2100.  So for now, positioning for a bounce here may not be a bad idea.

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