10/30/15 - EOD Update

Earlier today I tweeted that I was gonna short the wedge/ending diagonal.

Gonna short this rising wedge /ending diagonal. Ill try to post a chart over the weekend

— Grand (@grand680) October 30, 2015

I couldn't post a chart at the time but this is what I was seeing.

1 Min 

If {iii extends and equals to {i, 2076 would be the target. 1.618*{i = 2068. 2.168*{i = 2056.

60 Min 

I like this count and the look of the structure. Keep in mind of course, this wedge/ending diagonal may only complete a wave a/i/c. One medium term bullish option (wave a), one a lil longer term bullish (wave i) and the last bearish (wave c).

So with this position, I'm looking for a pullback to some support levels below/Fib retrace levels. 2060 would be a good target to start as it would return to the start of the yellow ending diagonal. 2020 would be the larger ED.

I am aware that the market tagged the center of the rising channel and revisited the 10/23 high at the 2080 level, where it may find support.

We'll see what happens next week. My stop is today's high.

10/27/15- EOD Update

Looks like wave iv is progressing nicely. Current projections for wave v=i is at 2103. Wave v doesn't have to go there though. It just needs to poke a lil above wave {iii. We'll see.

Now if the market fails from here and retraces back into wave {i, something else is going on that represents a complex corrective.

60 Min

10/23/15 - EOD Update

Looks like the bulls were able to close it over the 200 day SMA. The 20 day SMA has crossed up thru the 50 day SMA as well.

I like the count on the 60 min chart.

Lets see if the final waves wrap up for the fifth wave early next week possibly challenging 2100. From there, we'll see what type of pullback we get.

60 Min

Daily

SPX is lingering just under the trend line.

10/23/15 - AM Update

[7:50 AM] - Looks like a sub-dividing fifth wave. We'll see. Will exit the short if this closes above the 200 day.

7:50 AM - 60 Min 

10/22/15 - AM Update

[7:30 AM] - Keep an eye for a potential ending diagonal for this fifth wave of either:

1. Wave i green
2. Wave c purple
3. Wave a blue

7:30 AM - 60 Min 

10/21/15 - EOD Update

Been a lil busy lately and still not too much to add since the last post. I did add some alternates to the 60 min chart.

60 Min 

Daily

10/13/15 - EOD Update

Not much to add since last weeks' post. Just cleaned up the 60 min chart a tad. Looks like wave c hit an equal length to a.

Should another poke higher occur, we may be looking at a wave b pull back near 1950 (blue Fibs on 60 min chart) first because shooting higher.

60 Min 

One thing I added to the daily chart below is the yellow alternative. I like the possibility of an (x) wave here. I like it because I don't like the wave structure after my wave 4? green. I have it labeled as wave a (blue), which I think is more legit than an impulse wave up to start wave 5? green of (3)? green.

Daily

10/6/15 -

Let us revisit the daily chart and exam the current probabilities.

Daily

Off the 5/21/15 high, I count a large a-b-c flat out of the ending diagonal. From there, the 60 min chart highlights the other possibilities for wave c of this flat.

60 Min

Either we have five waves down to complete wave c of the flat or wave iv of c is underway.

If wave iv is underway, it may be a flat as well with its own wave c approaching the 50 day SMA and may almost be complete near 2000.

Here are the wave c extensions relative to wave a:
c=a at 2020
c=1.618*a

Weekly

 Haven't posted my long term weekly chart in a while. Assuming the flat on the daily chart is complete, it is very possible that wave (4) is complete. The alternate is that wave (a)? of (4) is complete (daily chart).

10/2/15 - EOD Update

Short term not quite a flat as previously speculated but more like a double zigzag. Pretty much the same result.

The corrective wave structure is now approaching 62% retracement.

5 Min 

To throw a wrench into the shorter term view is the 60 min chart. The larger flat still looks very viable along with the double bottom formation.

The bulls closed it above the 20 day SMA. Is the 50 SMA the next target at 2000?

60 Min 

10/2/15 - AM Update

[6:34 AM] - Possibly a flat forming on the 5 min chart. The blue option would be more bearish.

6:34 AM - 5 Min

10/1/15 - AM Update

[7:01 AM] - The bulls lost their potential impulse count by retracing below the green line. If the red and blue counts are in play, looking to go short if the bears can put five tiny waves down together on the 1 min chart. Short the retrace.

5 Min