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| 5 Min |
Friday, July 31, 2015
7/31/15 - AM Update
[7:08 AM] - We'll see if we have five completed waves. A 38% retracement would bring it back down to the 20 and 50 DMA near 2094. The 20 DMA is looking to cross back up thru the 50.
Thursday, July 30, 2015
7/30/15 - EOD Update
The market continues to bounce around within the range like clockwork. The 5 min chart is hinting at five complete waves so lets see if there is a dip to buy.
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| 5 Min |
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| 60 Min |
Tuesday, July 28, 2015
7/28/15 - AM Update
[6:49 AM Update] - So far a bounce out of the triangle. Either five waves completed with a mini double bottom or this bounce is just a wave C of iv of a flat before one more stab lower.
Either way, It looks like five waves may be complete or near completion so I'll be looking for a bounce.
Either way, It looks like five waves may be complete or near completion so I'll be looking for a bounce.
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| 6:49 AM - 5 Min |
Thursday, July 23, 2015
7/23/15 - EOD Update
Danny's recent comment got me off my butt tonight. Unfortunately not much to add though.
Since my last two posts, I was tracking the wedge and introduced a potential flat count for the market implying that a bounce may come. Sure enough we got the bounce.
After the bounce occurred, the market climbed back towards the top of the range I have been tracking. I figured the market would pullback, the question was to what degree.
So far its back towards the middle of the gray range and the 50 DMA.
Since my last two posts, I was tracking the wedge and introduced a potential flat count for the market implying that a bounce may come. Sure enough we got the bounce.
After the bounce occurred, the market climbed back towards the top of the range I have been tracking. I figured the market would pullback, the question was to what degree.
So far its back towards the middle of the gray range and the 50 DMA.
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| 60 Min |
Friday, July 17, 2015
7/17/15
Looks like we got that blast out of the wedge I was tracking. Now back at the top of the grey range. Looks expanding too. Lets see what sort of pause/pullback we see here.
Out of longs.
Out of longs.
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| 60 Min |
Thursday, July 9, 2015
7/9/15 - EOD Update
Not much to add the past few days with all these massive whipsaws but one thing I'll be watching is the large wedge forming. Could it complete and ED for C or a Leading Diagonal (unlikely) for a larger correction to come?
Either way I wouldn't mind playing that bounce should it come.
Either way I wouldn't mind playing that bounce should it come.
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| 60 Min |
Monday, July 6, 2015
7/6/15 - AM Update
[8:03 AM Update] - This would be the general plan. If we see a fifth wave up and then a retrace back to 2072-2067, I will take a long position at the wave 2 or b bottom.
[AM Update] - Looks like Grexit has been shrugged off so far by the market and buyers have stepped in at the 200 DMA. Price has also returned to the bottom of the range again.
The bears are not out yet. Looks like there should be one more bounce to challenge 2100. So for now, positioning for a bounce here may not be a bad idea.
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| 8:03 AM - 1 min |
[AM Update] - Looks like Grexit has been shrugged off so far by the market and buyers have stepped in at the 200 DMA. Price has also returned to the bottom of the range again.
The bears are not out yet. Looks like there should be one more bounce to challenge 2100. So for now, positioning for a bounce here may not be a bad idea.
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| Daily |
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