Wednesday, June 29, 2016

6/29/16 - EOD Update

The market blasted out of the gates higher today so I got my "few more points" and closed out my long position. The market continued to climb throughout the day and voided the five wave structure for the bears when 2050.37 was breached.

Last night I posted that should 2050.37 be taken out, the next best bear option is the nested 1-2 down so that is now the case for the bears.

For the bulls, today's gap and go looks like a wave 3 with the possibility of a completed five wave structure. So either wave i up for the bulls is complete or a few more tiny subwaves to go to complete it.

I'll be looking for a wave ii pullback to buy.

60 Min 

Tuesday, June 28, 2016

6/28/16 - EOD Update

So far the long position is doing well. Looking for a few more points tomorrow.

The bear count has this as a wave 4 bounce. However, that five wave count down will be voided if 2050.37 is breached. If that happens, the blue count will gain the advantage.

The alternate bear count would be the nest 1-2 down if 2050.37 does not hold.

60 Min

Monday, June 27, 2016

6/27/16 - EOD Update

Took another small long position today but was pretty early. Waiting to see the market's behavior around the 200 SMA here the next few days.

I updated the 60 min chart here since we now have what is clearly the wave C I have been tracking. The second option is in blue and a w-x-y may be nearing completion.

60 Min

Thursday, June 16, 2016

6/16/16 - EOD Update

This bounce may have some legs with the bullish divergence on the 60 min chart. I took a small long position for a trade to either take advantage of a wave (b bounce to 209x or the beginning of something more bullish with a wave {iii blue up. Not holding my breath for the later at the moment but won't ignore it either.

60 Min 

Monday, June 13, 2016

6/13/16 - EOD Update

The yellow count continues to gain more traction as previously posted. I updated the bull count option should anyone be looking to go long at the wave {ii low just above the 50 day SMA.

The 200 day is currently at 2015 and that would line up well with the end of wave (C for the yellow count option.

60 Min 


Tuesday, June 7, 2016

6/7/16 - EOD Update

Today I was tracking a little rising wedge/ED. I took a lil short position so. We'll see if this plays out.

5 Min 

Bigger picture, the yellow count option is starting to look more likely...

60 Min 
especially if the 2116-2134 highs hold. Daily shooting star candlestick too.

Wednesday, June 1, 2016

6/1/16 - EOD Update

Wave {ii may be working out a flat. Today's bounce may be wave b of the flat. Wave c down to come.
60 Min