4/30/14 - EOD Update

We'll see. Still choppy. Starting to like my yellow count. 

5 Min 

Daily

4/29/14 - EOD Update

I don't really like the squiggle options so I'm only gonna post the daily chart for now until there is more clarity. Because of all the chop, an ending diagonal scenario (yellow) for wave 5 blue may be more likely vs a standard impulse wave off the wave 4 running flat scenario (blue).

As I posted the other day, 1850 was relevant. So far the bulls have closed it over along with the with closing it over the 50 day SMA.

Daily

4/26/14

Trying to figure out if a new impulse wave up is working here to complete wave (5) or if the bears have one more leg down to complete an alternate wave 4 (60 min chart in red).

1850 looks like the level to watch as the market has been chopping around this level  (see daily). The 50 day SMA is near 1858 and the market is now back testing it after regaining it.

5 Min 

60 Min 

Daily

4/25/14 - AM Update

[10:21 AM] - If a lower low can be made, a flat looks legit.

10:21 AM - 1 Min

[8:22 AM] - If the bears manage to drop it lower a larger triangle is something to watch out for if the bulls are not ready to give up.

8:22 AM

[7:06 AM]  - The triangle is out but an expanding diagonal is still a possible structure. Better be prepared for a bear surprise tho.

7:07 AM

[6:32 AM] - We'll see if they are just trying to wrap up wave c of the triangle.

6:32 AM

4/24/14 - AM Update

[12:07 PM] - A triangle makes a lot of sense here.

12:07 PM 

[7:13 AM] - So far looks like a wave 4 flat. We'll see if the bears have more in em.

7:13 AM

4/23/14 - AM Update7

[7:27 AM] - Looks like wave 4 is on track. Would expect it to consolidate around here if it is to alternate with wave 2.

7:27 AM

4/23/14 - AM Update7

[8:20 AM] - Five down, three up.

8:20 AM

[7:27 AM] - Looks like wave 4 is on track. Would expect it to consolidate around here if it is to alternate with wave 2.

7:27 AM

4/23/14 - AM Update7

[7:27 AM] - Looks like wave 4 is on track. Would expect it to consolidate around here if it is to alternate with wave 2.

7:27 AM

4/21/14 - EOD Update

The best count near term.


The bears don't really have any good thing going for them. The only possibility would be a double zigzag off the 4/3 high.

4/16/14 - AM Update

[11:45 AM] - 5 Min update.

11:45 AM

[9:54 AM] - The primary bear count.

9:54 AM

[7:45 AM] - Been a little swamped at work lately. Best count at the moment. I don't have the nested 1-2 i-ii down for the bears but the bulls need to defend the green horizontal line.

7:45 AM

4/14/14 - AM Update

[10:23 AM] I see five potential waves up. Does it complete wave {c} or just a smaller degree wave 1 or a?

10:23 AM

4/11/14 - AM Update

[10:47 AM] - We'll see if wave {c} up is underway on a triple bottom.

10:47 AM

[9:27 AM] - The squiggles are tough to count so here is my best guess. I must admit I added a small short position near the day's high though.

9:27 AM

4/10/14 - EOD Update

If the bulls don't step in here, the market is setting up for a move to the lower green TL near 1800 or the 200 day SMA (1760). A bearish H/S is also forming.

I thought we would see more of a bounce into the close but it looks like it may have been sold already. We'll see.

60 Min 

Daily

4/10/14 - AM Update

[11:59 AM] - Let's see if this is a running flat.

11:59 AM

[11:36 AM] H/S target:

11:36 AM

[9:12 AM] - An update on the potential larger wave 4 running flat should the bears break lower.

9:12 AM

[8:00 AM] The bulls need to defend the wave [a] high if they want to print five waves up. Otherwise, the bears have at least one more leg lower in em.

8:00 AM

4/9/14 - EOD Update

On Monday I posted two running flat options. I wanted to see the market's reaction at the 50 day first.

So far it has bounced off the 50 day so the two running flats are very good count candidates. The only thing that concerns me at the moment is the wave structure off the 50 day so far.

It is a little difficult to count as impulsive so far. See the 5 min chart below. If it is an impulse, it will be one that subdivides since the initial wave structure looks like it is overlapping.

5 Min 

60 Min 

Daily

4/7/14 - EOD Update

Something bullish I want to point out if the market is not done with its journey higher. Pay attention to the green labels on the 60 and daily minute charts. This could all be some type of running flat for wave 4.

I also leave room for a running flat for wave ii of (5).

We'll see if the 50 day SMA holds first and must pay attention to the daily -ve MACD divergence.

60 Min 

Daily

4/7/14 - AM Update

[12:30 PM] - The market obviously had a bit more to go since my 6:52 AM post.

12:30 PM

 How high will it bounce?

12:30 PM 

Watch the back test here.

[6:52 AM] - Pretty close to five waves down. May play the bounce (60 Min)

6:52 AM

60 Min

4/3/14 - AM Update

[11:10 AM] - This whole leg has been diverging. We'll see if the H/S plays out.

11:10 AM

[9:30 AM] - Five waves up finally complete?

9:30 Am

4/2/14 - EOD Update

We can rule out the red count I have been tracking along with the more bullish blue count.

4/1/14 - AM Update

[8:12 AM] - Based on this wave structure, either five wave move up just completed or an a-b-c.

If one believes, in the a-b-c (red count), I'd watch the triangle on the 60 min. Wave d is complete based on this.

If one believes in the bullish case, one would buy a dip should there be a lil pull back here.

8:12 AM

8:12 AM