Gonna short this rising wedge /ending diagonal. Ill try to post a chart over the weekend— Grand (@grand680) October 30, 2015
I couldn't post a chart at the time but this is what I was seeing.
I like this count and the look of the structure. Keep in mind of course, this wedge/ending diagonal may only complete a wave a/i/c. One medium term bullish option (wave a), one a lil longer term bullish (wave i) and the last bearish (wave c).
So with this position, I'm looking for a pullback to some support levels below/Fib retrace levels. 2060 would be a good target to start as it would return to the start of the yellow ending diagonal. 2020 would be the larger ED.
I am aware that the market tagged the center of the rising channel and revisited the 10/23 high at the 2080 level, where it may find support.
We'll see what happens next week. My stop is today's high.