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| 60 Min |
On the 60 min, it actually looks better as a 3 of {iii} that may have wrapped up today. I'm not so sure though because a closer look at the squiggles does not support that.
Tuesday, March 5, 2013
3/5/13 - EOD Update
On the 60 min, it actually looks better as a 3 of {iii} that may have wrapped up today. I'm not so sure though because a closer look at the squiggles does not support that.
Monday, March 4, 2013
3/4/13 - EOD Update [9:00 PM Update]
[9:00 PM Update]
Here is a chart that isolates another version of a flat for wave 4. This is highlighted in red. Wave b of 4 is a triangle.
EOD Update
Not much to add. This is still choppy action.
The bulls may have added a little to their case, however, note the larger flat potential as the blue alternate.
The red option is pretty weak.
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| 60 Min |
EOD Update
Not much to add. This is still choppy action.
The bulls may have added a little to their case, however, note the larger flat potential as the blue alternate.
The red option is pretty weak.
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| 5 Min |
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| 60 Min |
Sunday, March 3, 2013
3/3/13 - Update
Kind of a tough read at the moment.
Case for the bulls:
1. The wave off the 2/19 high is best counted as corrective at the moment.
2. Price is still tracking up the ascending trend line
3. The blue count shows wave (iv) either complete or working on a potential triangle
Case for the bears:
1. 60 min MACD bear cross
2. The bulls have not made a higher high yet since 2/19.
3. The weekly chart is wrought with negative divergence and it still looks like one humongous wedge.
4. There's room, even tho it supports the bull count, for one more wave down to approx 1480 (11/16/12 - 12/28/12 trend line) to complete a larger wave (iv) flat.
Case for the bulls:
1. The wave off the 2/19 high is best counted as corrective at the moment.
2. Price is still tracking up the ascending trend line
3. The blue count shows wave (iv) either complete or working on a potential triangle
Case for the bears:
1. 60 min MACD bear cross
2. The bulls have not made a higher high yet since 2/19.
3. The weekly chart is wrought with negative divergence and it still looks like one humongous wedge.
4. There's room, even tho it supports the bull count, for one more wave down to approx 1480 (11/16/12 - 12/28/12 trend line) to complete a larger wave (iv) flat.
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| 5 Min |
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| 60 Min |
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