Monday, November 9, 2015

11/9/15 - EOD Update

So far that larger H/S is playing out. Near the end of the day we saw a bounce back towards the neckline so we'll see what she does there.

Earlier this AM I mentioned that the H/S target is near 2040. I forgot to mention that the 20 day SMA is about to cross thru the 200 day SMA, which is currently at 2060ish.

Today's intraday low was 2068 so quite possible the market could find support here or consolidate around this area.

60 Min
Looking at the daily below we must consider the MACD bear cross and the wave (x) option backtesting the underside of the longer term channel. We shall see.


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