Thursday, October 13, 2016

10/13/16 - AM Update

Got the wave -ii bounce I was looking for just shy by 5 points. Looks like wave -iii is now underway. Wave -iii = -i at 2104ish. 

Will continue to monitor the chop though if 2120 holds.  If so, I will label some alternate corrective options. Until then wave -iii is the primary count. 

60 Min

Tuesday, October 11, 2016

10/11/16 - EOD Update

Looks like that triangle for wave {b completed just a tad quicker. Either way, I was favoring the bias lower and now it appears to be in the works. If wave {c is in progress, wave -i completed today. Should follow up with a wave -ii bounce before heading lower.

Since all these waves are corrective, there are still several alternate options that would account for a chop higher from here. I won't list them yet unless 2170 is taken out. Until then, let's see if wave {c completes itself.

60 Min 

Monday, October 10, 2016

10/10/16 - EOD Update

Earlier today I posted the triangle I mentioned on my 10/4/16 post. However, I did not post the other triangle as it relates to my daily count, which I still slightly favor.

The red count below aligns with the bias lower to complete wave (iv) near the 200 day SMA. A move should be coming soon. We'll see which direction the market takes.

60 Min 



Here is the triangle I was referring to since the last post.

60 Min 

Tuesday, October 4, 2016


Been quite busy lately so haven't had much time to follow intraday. Overall I still don't see much by way of direction. Based on daily MACD and all the chop lately, I slightly favor a deeper pullback for (iv) or ii possibly towards the 200 day SMA.

A alternate view would be a potential triangle that started off the Aug high of this year.