2/6/13 - EOD Update

60 Min 

Sorry for the late post again but there was not change to my 2/5/13 post and so far that seems to be the case.

2/5/13 EOD Update

60 Min 

Sorry for the late update. This is what I'm speculating may be happening with the roller coaster ride.

2/4/13 - EOD Update

60 Min

It looks like (iii) is complete. The bulls need to defend the 1448 level to preserve the impulse up.

The bears, of course, need to take the market back thru 1448 to create a (iv)-(i) overlap for the blue option, rendering the impulse void. Lets see if the bears can form a much larger impulse wave down.

Lets continue to watch this wedge. As posted last Fri, a sudden collapse would mark the end of this move up.

2/1/13 - EOD Update

The market has continued to track along with the blue count. It has now reached the top of the ending diagonal as well.

We shall see in the coming weeks what the market intends to do. Either break out and up to challenge the all time highs or look for rapid breakdown of the wedge.

60 Min 

Weekly

Long term

We can speculate all we want on the longer time frame but it may not do us any good. However, if I had to choose, these are the two best options IMHO.