Friday, May 4, 2012

5/4/12 - EOD Update

[9:40 PM Update]

SPX - 5 Min
No doubt that wave c/3 is extending and I think this is the best interpretation for now.

EOD Update

The bears decided to party on. Option black and pink are rolling along just fine and blue is now in jeopardy.

The bears managed to get a daily and weekly bear cross, however, the bulls defended the 13 week EMA.


SPX 30 Min

SPX - Daily
Lower BB as the target?

Daily Bull Option
Still looking to see what type of Minor 4 is in play here. The breakdown out of the red channel may be hinting that Minor 4 is in play.

Check back over the weekend because I have started to put together separate charts that break out the individual options from the chart above.

Minor 4 Tri Option
Here is one such option. Lets see if the lower TL holds.

Fractal/Similiarity
Here is a follow up to this chart I posted a few days ago. The H/S below would play in well with this.