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Monday, August 31, 2015
8/31/15 - EOD Update
As I posted this AM, the triangle is still not technically out, but as I posted earlier, I'd like to see wave -iv taken out so I can buy something.
Trying to retest the death cross.
Still early in the week but a potential weekly hammer candlestick waiting to be confirmed.
8/31/15 - AM Update
The triangle is technically not out yet until the currently labeled wave -iv is taken out. So far, backtesting the lower TL of the original triangle.
I'd like to see -iv taken out to buy something.
I'd like to see -iv taken out to buy something.
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| 7:47 AM - 5 Min |
Sunday, August 30, 2015
8/30/15
On Fri, I tweeted that a potential triangle could be forming
I will be looking to buy the dip tomorrow if the top of wave 'a' is not breached on my 5 min chart. If wave a is breached, I will look at the structure for this pullback for guidance along with the Fib retracement levels to determine if I go long for a trade. It can always turn into a triple bottom.
So first things first. Lets see if the top of wave 'a' holds. If not, I'll reassess and see what type of wave action we have down to the typical 50-62% Fib retrace levels.
So far an 'a-b-c' down off the all time high.
Hmm. Actually can see. Potential tri forming in my 5min chart. Will post later
— Grand (@grand680) August 28, 2015
However, with futures action tonight down ~24 points (ES), its obvious that five waves have actually completed, which is what I was looking for.I will be looking to buy the dip tomorrow if the top of wave 'a' is not breached on my 5 min chart. If wave a is breached, I will look at the structure for this pullback for guidance along with the Fib retracement levels to determine if I go long for a trade. It can always turn into a triple bottom.
So first things first. Lets see if the top of wave 'a' holds. If not, I'll reassess and see what type of wave action we have down to the typical 50-62% Fib retrace levels.
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Thursday, August 27, 2015
8/27/15 - EOD Update
Can the market rally to new ATHs from here? We'll see. The bulls have their work cut out for them at the moment.
The 5 min chart highlights a double bottom target at 2040. If the market can hit this level, this would back test the lower end of the range of the 5 month range.
This would also put the market near the underside of that longer term trendline on the daily chart.
Lastly, the SPX is in the midst of a death cross (50 < 200 MA). Both are currently at the double bottom target location as well.
So far this bounce is nice but I would treat it cautiously because there is a good chance this could just be a wave (b) bounce of (4).
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Wednesday, August 26, 2015
8/26/15 - EOD Update
A few options here. What we do know now is that wave 3 or (3) is complete. The current decline has either completed wave 4 green (since it is now in the territory of the previous wave 4) or wave (a) of (4) is underway/complete.
I have included the weekly for a larger view of the long term count.
I have included the weekly for a larger view of the long term count.
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Thursday, August 20, 2015
8/20/15 - EOD Update
Wowza. Been gone and busy but looks like the market is back at the bottom of the range and now the bottom of the descending channel.
The market hit the lower end on the ascending channel and trendline.
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Thursday, August 13, 2015
8/13/15 - AM Update
Sorry, haven't had time to post. Would have pointed out the hrly + divergence. I like this setup here, 5 min chart, with a potential to go long. Will look for a correct wave into the Fib retrace levels.
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Monday, August 10, 2015
8/10/15 - AM Update
[7:00 AM] - So far so good since last Fri's tweet,
We'll see how this plays out. If a mini five waves completes here from this bounce, we should be able to buy another pullback.
Five waves down to complete wave c. Time yo buy the bounce
— Grand (@grand680) August 7, 2015
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| 5 Min |
Friday, August 7, 2015
Thursday, August 6, 2015
8/6/15 - EOD Update
Looks like the wave c call from yesterday was the correct call since it did not take out 2113.8x. The market retreated lower in what appears to be a nice little impulsive wave with four waves completed so far.
Two options on the 5 min chart below:
1. Either a tiny fifth wave lower tomorrow to complete wave c of a flat or...
2. Wave y completed today for a double zigzag
Earlier today this is what I tweeted:
The triangle is highlighted on the daily chart above. If it is a triangle, it works well with the green count.
Two options on the 5 min chart below:
1. Either a tiny fifth wave lower tomorrow to complete wave c of a flat or...
2. Wave y completed today for a double zigzag
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| 5 Min |
Cant post a chart but overall daily chart looks like a triangle for this range now and this move down today completing wave c of a flat
— Grand (@grand680) August 6, 2015
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Wednesday, August 5, 2015
8/5/15 - AM Update
[6:48 AM] - Not a bad call so far. Looks like a wave c at the moment until it can take out 2113.8x.
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| 6:48 AM - 5 Min |
Tuesday, August 4, 2015
Saturday, August 1, 2015
8/1/15 - Daily Extended Update
All this sideways chop in the range got me to reexamine the extended count I have been tracking. Its pretty obvious wave (3) of this count must be extending.
Upon closer examination, I have added the green alternate count on the chart. If this is the correct count, then the range we have been seeing is a wave 4 of (3), which implies another poke higher or a challenge of the all time high.
As usual, we'll see...
Upon closer examination, I have added the green alternate count on the chart. If this is the correct count, then the range we have been seeing is a wave 4 of (3), which implies another poke higher or a challenge of the all time high.
As usual, we'll see...
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| Daily |
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