2/5/14 - AM Update

A new squiggle count using today's low. Bulls printed five tiny waves up.

10:30 AM

Yesterday's 1min squiggle count is out. The larger degree 60 min count still in play. Eyeing the potential falling wedge now. Watching the red count as well. Both scenarios still looking for a bounce.

2/4/14 - EOD Update

Much of today's bounce appears to be corrective. The majority of the move also resembled a rising wedge.

Because of the +divergence that I have been watching, which confirmed today, we'll give the bulls the benefit of the doubt here.

The rising wedge may be treated as a leading diagonal. I have it as a wave 1, but certainly may be considered a wave A as well.

So I'm betting on another leg higher, perhaps to target the inv h/s near 1775 as posted earlier today.

1 Min 

60 Min 

2/4/14 - AM Update

+divergence continues to build. Couple that with the inv h/s, we'll see.

9:35 AM

Sorry. Forgot to include the corrective count.

9:21 AM

Possible inv H/S?

9:16 AM

The 1 min

7:19 AM

Watching the +divergence and squiggle count on this bounce.

I hope I have time to post if I see a wave c/3 long trade setup. GL!

7:08 AM

2/3/14 - EOD Update

Last week, I was looking for a double bottom or new low at some point to come. Looks like the market really wanted to put in a much deeper new low.

I haven't really had the time to examine the squiggles but from an hourly standpoint, it sure looks like an impulse wave down from the 1850 high put in on 1/15/14.

However, until that wave (1) high is retraced into, this selling could be a wave (4).

60 Min 

Of course this H/S should be watched. The right shoulder could use some more development though. We'll see.

Daily

10 year yield coming up on it's wave 4 target at 38% retracement.

TNX