The bulls cannot claim complete victory yet since this rising wedge with quadruple -ve divergence is something to be concerned about, especially since this would fit in with a "sell the news event".
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Stock Market Analysis With The Elliott Wave Principle -Dow Jones, S&P 500, Russell 2000, Nasdaq and FX. All charts and commentary on this site are strictly the opinions of the author(s) and are for recreational purposes only. In no way should this be construed as trading advice or a recommendation for investing. See disclaimer at the bottom of the page.
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Wednesday, October 16, 2013
10/16/13 - EOD Update
As I mentioned yesterday we should be prepared for the whipsaws. The bulls got some today and launched a 3 of 3 wave into the close to challenge the upper wedge TL near 1730ish.
The bulls cannot claim complete victory yet since this rising wedge with quadruple -ve divergence is something to be concerned about, especially since this would fit in with a "sell the news event".
The bulls cannot claim complete victory yet since this rising wedge with quadruple -ve divergence is something to be concerned about, especially since this would fit in with a "sell the news event".