Monday, June 29, 2015

6/29/15 - EOD Update

The market finally broke thru the neckline of the head and shoulders. The target is 2000 if it plays out completely. 2000 would also bring it back to the start of the wedge.

Price was just shy of the 200 DMA.

60 Min

We'll see if the market can recover 2072, which is the bottom of the previous range I've been tracking.


If today's move is the beginning of the end of the 6 year run, its time to look at the daily and weekly chart again. This is my best interpretation. 

Daily
Here is a look at the weekly. 

Weekly

6/29/15

Bottom of the range.

60 Min 

Sunday, June 28, 2015

6/28/15

Looks like Greece is gonna help out the bears and keep that H/S I have posted in play.

If futures action remains the same by the AM, we should see a test near the neckline at 2070.

On Fri, near the close, I suspected that the wave down may have be extending.


60 Min 

60 Min

Thursday, June 25, 2015

6/25/15 - EOD Update

Three waves down for da bears.

5 Min 


Wednesday, June 24, 2015

6/24/15 - EOD Update

A lil interesting up here with the squiggles. The H/S I posted on the 60 min is not out but there still is a lot of chop up here. For now, I'll say since it just hit the top of the range and has comeback, I favor another attempt lower towards the neckline.

5 Min 

60 Min 

Thursday, June 18, 2015

6/18/15 - EOD update

The market climbed above 2115 and more as wished. Now the right shoulder is symmetrical with the left at 2125.  We'll see.
60 Min


Wednesday, June 17, 2015

6/17/15

Lets wait for the market's reaction. Large H/S in the works here on the 60 min.

On the 5 min chart, we have five waves up and five waves down. Ideally, I'd like to see another leg above 2115 first before the larger H/S plays out.

5 Min 

60 Min 

Friday, June 12, 2015

6/12/15 - AM Update

[12:55 PM Update] - Looks like bears have formed what may be four waves. Lets see if they finalize a fifth. Bulls are not out yet.

5 Min - 12:55 PM



[8:36 AM UPDATE] - Battle of the impulse. Five waves up from 6/9. So far three little waves down from yesterday. The bulls will confirm the corrective if they can get over the red line.


5 Min - 8:36 AM


[7:15 AM UPDATE]We'll see if I hang on to that lil short position I took the other day.  Will be watching to see if it can reamin in the yellow descending channel.

So far backtesting the trendlines I had been watching. The bounce off the 6/9 low surely looks impulsive.


60 Min - 7:15 AM

Wednesday, June 10, 2015

6/10/15 - AM Update


[7:19 AM] Booyah bounce. Yesterday I speculated that a bounce was likely to come. Then I tweeted the following:

Near the end of the day
So far looks like it is there. Now what to do with that long position. We'll take half off and see what the reaction is here at the 50 DMA.
7:19 AM - 60 Min 

Tuesday, June 9, 2015

6/9/15 - AM Update

Some intersecting trendlines above.

60 Min 

Monday, June 8, 2015

6/8/15 - EOD Update

Is it now the bear's time to shine? Thinking they are building on something here with trendlines/ED breaking. At least a challenge of the 200 DMA?

So far three waves down though so lets see if they can make five at the 60 min degree.

60 Min 

Daily

Friday, June 5, 2015

6/5/15 - EOD Update

Have a great weekend.

60 Min 

6/5/15

A neckline break on the propose H/S yesterday. However, for the bulls, wave ii green nearly hit 78.6% retracement. If the bears can take out 2067.93, they will invalidate the bull count.

60 Min 

Thursday, June 4, 2015

6/4/15

Still watching and waiting. With current futures action, we'll see if an H/S is playing out. So far two attempts at regaining the lower pink trendline has failed.

60 Min