Wednesday, September 21, 2016

9/21/16 - EOD Update

Is wave (iv) in? Or is wave ii in? Still no reason to label the larger flat I briefly mentioned on 9/10/16. 

I added the time level for the US Presidential Election day on11/8/16. Lets see what happens around that time if the market continues to rally with in the wedge. Could wave (v) be in progress and terminate right around that timeframe?


Tuesday, September 13, 2016

9/13/16 - EOD Update

No change. Same as the 9/10/16 post.

Saturday, September 10, 2016


On my 60 min chart, I have noted for quite some time that the wave structure off the Feb 2016 low has only been three waves. Since my last post on 8/29/16, I introduced another option, which is the potential for an ending diagonal for wave (5).  * Note the other option is the much more bullish nested 1-2 i-ii for wave (5).

At the moment, the level to watch is 2111.05. If the market breaches this level, it will either i) suggest the ending diagonal is in play or ii) bring the nested 1-2 i-ii count into contention since the impulsive five-wave count for wave (5) would be out.

I won't label it yet but should a larger decline occur, which means revisiting the 1800 levels, a much larger flat may be in the works.

For now, I'd like to see what happens near/around the lower trendline first to see if the ED is in play.