Wednesday, November 18, 2015

11/18/15 - EOD Update

The bear count posted is now out (see new alternate below). The market broke out of the expanding diagonal. The orange H/S is now more unlikely too.

The bias would be to look for the market to challenge the 2116 high first. From there, we can potentially look at the new bearish option of a much larger expanding diagonal triangle. (in red)

15 Min 

If the bulls have their way, they are in the midst of launching higher in a wave iii or c per the 60 min chart.

60 Min 
If the bulls succeed in taking out 2135, then it just means that wave 5? green was not complete yet per the daily chart.


So first things first. Lets see what happens at 2116.

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