Wednesday, January 13, 2016

1/13/16 - EOD Update

Looks like we got those five waves down to complete or nearly complete wave {c on the 60 min chart. Note that gives priority to the purple count that blends in with the red. This would complete an expanded flat that could be all or part of wave (y) orange on the daily.

The bearish alternate is the pink count that has a much larger impulse wave down in the works. This would play out as a larger wave (c) on the daily. One can use the blue labels as well. Wave (c) =(a) near 1860 and 1.618* (a) near 1710.

The bullish count is that the wave structure is now completing wave (c) of the triangle. It is hovering at the lower trendline. This bullish count would be out if 1867.08 or 8/25/15 low is taken out.

60 Min 

Daily
Haven't posted the RUT in a while but it looks like its in trouble with a potential H/S.

RUT

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