I just realized that my copper chart at the bottom of the post may have put in an Eve and Adam double bottom. For on this pattern check it out here Bulkowski's Blog.
[4:36 PM Update]
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| Repeat |
If this is happening, wave 4 of the LD is on tap, which also jibes with a potential wave 4 pullback with the 15 min charts I have been posting.
[Updated the 15m Primary]
I updated the 15m Primary below to better reflect the wave 2 pullback and the or 4 pullback.
EOD Update
The bulls managed to take out another resistance level today at 1250 and close above it. All three counts I'm following remain in-line with one another even with the respective alternates within the alternate counts.
All imply that the end of this leg off the 10/4 low should be ending if it has not already ended today.
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| SPX - 15m Primary |
My primary 15 min count is looking for one more possible push to 1258 if it did not already complete it's leg up today.
Notice there is a slight discrepancy with my primary hourly count below with the 15 min above. I would go with the blue count below because of form and the fact that the hourly MACD is rolling over to create a -ve divergence. This would make sense that this leg up from10/18 may be completing.
Either way, my 15 min chart has it listed as the alternate option. I just didn't want to have to move the labels around again. I'll just be watching for both.
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| Blue- 60 Min Primary |
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| SPX - 15m Alternate |
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| SPX -15 m Alternate 2 |
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| SPX - Daily Altenrate 2 |
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| VIX - 15m |
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| HG |
