Thursday, May 19, 2016

5/19/16 - EOD Update

The wild ride continues. I exited half my long position yesterday on the bounce to 2060 and salvaged the remaining position on the bounce after the market pierced thru 2034.

The market has now taken out the neckline and spent most of the day bouncing back towards the underside of the neckline. Hourly MACD about to cross up so we'll see what sort of potential bounce is in store tomorrow.

The wave structure off the 4/20/16 high is too choppy to call impulsive.

60 Min 

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