10/7/13 - AM Update

The purple option is looking really good since the market continues to chop around.

The green option has a leading diagonal to kick this off.

15 Min - 9:02 AM

10/4/13 - EOD Update

No real resolution for either the bulls or the bears. The market continues to chop up and down so the triangle I proposed as one of the options is still in play.

The market has closed below the 20 day SMA for a 2nd day. The bears have two options in their favor.

The short term options (purple, red and green) are still in play. The bulls may have a case for a decent five wave move off yesterday's low. However, this could simple represent a five wave move for a wave c of the purple triangle or a wave c of the running flat for the red option.

15 Min 

Daily

10/4/13 - AM Update

A possible impulse count option on the 1 min .

1 Min - 12:46 PM

Just wanted to update the red option as well. This could work as a running flat for the nested (i)-(ii) {i} - {ii} down.

15 Min - 9:45 AM

Rising wedge could be complete. The question is does this wrap up wave {c} of the purple tri or is it a leading diagonal for the green count?

15 min - 9:41 AM

There's that nice little wave c or iii move up for that trade setup yesterday. We'll see what it does at the blue TL (15 Min )

1 Min - 7:32 AM

15 Min  - 7:32 AM

10/3/13 - EOD Update

The bulls tried to put up a fight today after the market tanked 22+ points. For now they have defended the blue TL (daily chart below). I have reintroduced a green option should the next leg higher be in progress.

However, a few things still favor the bears:  The purple and red options are still in play, a close below the 20 day SMA, MACD sell signal confirmed and a triple -ve daily divergence.

15 Min 

Daily