Here comes the bulls. They managed to break out of the range since late June. If anything a new higher high has been made while higher lows continue to hold. A daily MACD bull crossed occurred today and the weekly is looking to cross as well.
With all that thought I'm still having a hard time with the most bullish count here and believe it has to be some form of a larger leading diagonal which may have completed today or early next week. If the LD count I have is to remain valid, the market cannot take out 1394 or wave 5 will be > 3.
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| 10 Min |
Per the 10 min count, wave 3 may have completed. We now much watch for a wave 4 pullback I'll be watching the Fib targets below.
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| Bear |
The bears have chosen to take the
complex corrective route as proposed the other night. Until 1422 is taken out, the bear count remains valid.
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| Bull - Diagonal |
Wave 5 cannot exceed 1394. Lets see if the 5/1-7/19 TL has any influence on the move higher.
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| BB |
The market closed above the upper BB so lets see if it pulls back inside for wave 4 per the 10 min chart.
