Tuesday, March 19, 2013

3/19/13 - EOD Update

Bears may have dropped the ball today. Earlier today, I tweeted the 5 min chart highlighting the line the bears needed to defend.

5 Min 
As you can see, there is overlap after overlap so there is a strong possibility that the double zigzag wxy is the correct wave count.

60 Min 
Wave {iv} is still a top contender. Bears needs to flush it now to account for all the overlap if they want to push the market lower in an impulsive fashion.