2/7/14 - AM Update

Maintaining the channel and extending.

12:07 PM

If wave 1 or A is complete, some targets below for 2 or B.

8:57 AM

Re-drew the 2-4 channel to identify the wave (v) target should wave iv hold.

8:27 AM

The line the bulls need to defend.

8:13 AM

The tri failed. Good alternation between iv and ii at this moment.

7:19 AM

Lil triangle.

7:08 AM

Forgot to put in the acceleration channel.

6:59 AM

 Looks like (v) wanted to = (i). We'll see.

6:52 AM

2/6/14 - EOD Update

The bulls decided to attend the party and print five waves up off yesterday's low. We got the bounce  I was anticipating.

Both bull and bear counts now are aligned so there is reason to believe another leg up should be expected after a pullback for wave ii or b.

I know there is a bearish head and shoulders pattern developing so we must be mindful of this.

The 20 day SMA has cross down through the 50 day and currently is at 1806. Should another leg higher materialize, that would be a likely target. This lines up with Fib extension targets for wave iii/c higher.

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2/6/14 - AM Update

Looks like (v) is underway.

11:22 AM

Let's see if (iv) is in progress.

10:33 AM

In case iv is turning into a triangle.

9:30 AM

Let's see if (iii) is complete here. Could still be wave iv basing. Structure-wise it is all there.

9:00 AM

Let's see if v of (iii) is underway. v=i at 1772.

8:36 AM

Actually, a better squiggle view with projections.

7:49 AM

Good third leg up so far.

7:43 AM

2/5/14 - EOD Update

The bulls managed to break out of the falling wedge, slightly. We'll see if the bulls can pull off another leg higher.

Otherwise, a potential triangle is forming down below (see 60 min chart).

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