10:10 PM Update
EOD Update
The market drops and then it rallies. It certainly can't make up its mind at the moment.
Pattern-wise it does look like a bear flag on the hourly but shorter term, there is an argument for a double bottom.
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| 3 min |
The rally off the low either represents a wave ii of 5 per the bear count below or is working on new highs per the bull count.
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| 15 min |
The 15 min chart is an in-between alternate that also fits for both the 60 min bear and bull count. This would represent a flat for wave 4 per those counts. So shorter term, 1330 may be challenged if this count proves to be correct.
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| 60 Min Bear |
Primary for this count is a wave iii of 5 down begins tomorrow. Targets for wave 5 are 1290 - 1260.
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| 60 Min Bull |
Unless wave 5 blue is not complete, this is working towards challenging the April high.
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| Uber Bear |
I introduced this count intraday in the CiL. Something to keep in mind.
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| Ultra Bull |
Of course there has to be an ultrabull to answer that uber bear count. Note the level that needs to be clear to give this count some validity.
