12/6/12 - EOD Update

Most of my readers know that I like to present as many optinos as possible. However, since the market has been in consolidation mode, it is obvious that many more options are avail then I would like to point out.

I'd say the best thing at the moment to focus on is the triangulation which is occurring. Note that in the 60 min chart above, I have either a wave {ii} blue complette or wave B pink about to wrap up its triangle.

I say as long as the lower triangle trend line holds, the bias is up. Tomorrow, we should see it out of the gate. Either {iii} blue shoots for 1424 and beyond or wave d of B shoots for the 1418-1415 region before dropping back down.

Should the lower triangle TL break, I will then present some additional bearish options.

12/6/12 - Intraday Update

In last nights EOD Update, I mentioned the possibility of a large flat playing out. I just tweeted this but wanted to make sure my readers who do not follow me on twitter can see these charts and potential wave structure.

5 Min

60 Min 

Weekly

Keep in mind this count as well. If the larger ED is in play, the current pink waves A and B are forming for one final C wave to complete wave 5 near 1485 if C=A using the triangle wave e low of B.

12/5/12 - EOD Update

I tweeted earlier that the market may provide one an opportunity to go long near 1409-1407 if ya missed the bottom today. The market did not disappoint into the close.

There is a very good chance the market at minimum is trying to re-test 1423 and form a wave B for a flat. Of course the 15 min chart below has a few more bullish options on tap.

I almost mentioned a few days back that it was possible the market will try to consolidate just under the 50 day SMA and so far, that is looking promising as well. The range for this consolidation so far appears to be in the 1400-1420 range.

Lets see if the market makes a stab higher tomorrow based on the 5 min chart below. However, something to keep in mind is the bearish H/S pattern for AAPL.

5 Min

AAPL 

Back on 11/2/12, I mentioned this was a pattern to keep an eye on and so far it is going along with the plan.

12/5/12 - 12:45 PM Update

Lets see if the market has provided another buying op short term here.