However, a few things still favor the bears: The purple and red options are still in play, a close below the 20 day SMA, MACD sell signal confirmed and a triple -ve daily divergence.
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| 15 Min |
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| Daily |
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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Thursday, October 3, 2013
10/3/13 - EOD Update
The bulls tried to put up a fight today after the market tanked 22+ points. For now they have defended the blue TL (daily chart below). I have reintroduced a green option should the next leg higher be in progress.
However, a few things still favor the bears: The purple and red options are still in play, a close below the 20 day SMA, MACD sell signal confirmed and a triple -ve daily divergence.
However, a few things still favor the bears: The purple and red options are still in play, a close below the 20 day SMA, MACD sell signal confirmed and a triple -ve daily divergence.