Wednesday, December 23, 2015

12/23/15 - EOD Update

The primary bull count is that wave -iii is underway. The assumption is that wave -iii will take out 2076 and challenge 2100. Wave -iii = -i at 2089ish.

The primary count for the bears is that a larger wave (y) yellow or (c) blue is underway (see daily chart). This would be a choppy wave structure down tho because these waves overlap a fair bit.

The bulls closed above the 50 day SMA and continue to find support at 2020.

The bears continue to print lower lows and lower highs.

Where are we headed? Thats anyone's guess. I'm just gonna keep trading the third (3 or c) waves until we get a decisive breakout.
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Daily Bollinger Bands

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