Monday, August 31, 2015

8/31/15 - EOD Update

As I posted this AM, the triangle is still not technically out, but as I posted earlier, I'd like to see wave -iv taken out so I can buy something. 

5 Min 

Trying to retest the death cross.

Still early in the week but a potential weekly hammer candlestick waiting to be confirmed. 

8/31/15 - AM Update

The triangle is technically not out yet until the currently labeled wave -iv is taken out. So far, backtesting the lower TL of the original triangle.

I'd like to see -iv taken out to buy something.

7:47 AM - 5 Min 

Sunday, August 30, 2015


On Fri, I tweeted that a potential triangle could be forming
However, with futures action tonight down ~24 points (ES),  its obvious that five waves have actually completed, which is what I was looking for.

I will be looking to buy the dip tomorrow if the top of wave 'a' is not breached on my 5 min chart. If wave a is breached, I will look at the structure for this pullback for guidance along with the Fib retracement levels to determine if I go long for a trade. It can always turn into a triple bottom.

So first things first. Lets see if the top of wave 'a' holds. If not, I'll reassess and see what type of wave action we have down to the typical 50-62% Fib retrace levels.

5 Min

So far an 'a-b-c' down off the all time high.


Thursday, August 27, 2015

8/27/15 - EOD Update

Can the market rally to new ATHs from here? We'll see. The bulls have their work cut out for them at the moment.

The 5 min chart highlights a double bottom target at 2040. If the market can hit this level, this would back test the lower end of the range of the 5 month range. 

This would also put the market near the underside of that longer term trendline on the daily chart. 

Lastly, the SPX is in the midst of a death cross (50 < 200 MA). Both are currently at the double bottom target location as well. 

So far this bounce is nice but I would treat it cautiously because there is a good chance this could just be a wave (b) bounce of (4).

5 Min 

60 Min 



Wednesday, August 26, 2015

8/26/15 - EOD Update

A few options here. What we do know now is that wave 3 or (3) is complete. The current decline has either completed wave 4 green (since it is now in the territory of the previous wave 4) or wave (a) of (4) is underway/complete.

I have included the weekly for a larger view of the long term count.



Thursday, August 20, 2015

8/20/15 - EOD Update

Wowza. Been gone and busy but looks like the market is back at the bottom of the range and now the bottom of the descending channel.

60 Min 
The market hit the lower end on the ascending channel and trendline.


Thursday, August 13, 2015

8/13/15 - AM Update

Sorry, haven't had time to post. Would have pointed out the hrly + divergence. I like this setup here, 5 min chart, with a potential to go long. Will look for a correct wave into the Fib retrace levels.

 5 Min 

60 Min 

Monday, August 10, 2015

8/10/15 - AM Update

[7:00 AM] - So far so good since last Fri's tweet,

5 Min 
We'll see how this plays out. If a mini five waves completes here from this bounce, we should be able to buy another pullback.

Friday, August 7, 2015

8/7/15 - EOD Update

Five waves complete for the flat. Let's see what happens next week.

5 Min 

Thursday, August 6, 2015

8/6/15 - EOD Update

Looks like the wave c call from yesterday was the correct call since it did not take out 2113.8x. The market retreated lower in what appears to be a nice little impulsive wave with four waves completed so far.

Two options on the 5 min chart below:

1. Either a tiny fifth wave lower tomorrow to complete wave c of a flat or...
2. Wave  y completed today for a double zigzag

5 Min
 Earlier today this is what I tweeted:
The triangle is highlighted on the daily chart above. If it is a triangle, it works well with the green count.

Wednesday, August 5, 2015

8/5/15 - AM Update

[6:48 AM] - Not a bad call so far. Looks like a wave c at the moment until it can take out 2113.8x.

6:48 AM - 5 Min

Tuesday, August 4, 2015

8/4/15 - EOD Update

5 min chart only. Lets see if a wave c or iii launches from here.

5 Min 

Saturday, August 1, 2015

8/1/15 - Daily Extended Update

All this sideways chop in the range got me to reexamine the extended count I have been tracking.  Its pretty obvious wave (3) of this count must be extending.

Upon closer examination, I have added the green alternate count on the chart. If this is the correct count, then the range we have been seeing is a wave 4 of (3), which implies another poke higher or a challenge of the all time high.

As usual, we'll see...