6/16/14

The bulls are struggling to recapture the upper yellow trendline. Now there is a daily MACD cross down. I think the edge goes to the bears here since there are 2 of 3 count options favoring some downside. As always we'll see.

6/13/14 - EOD Update

The bull options:

1. A wave iii of 5 launches early next week, assuming wave ii of 5 is complete.
2. A wave iv of a larger ED challenges the lower yellow trendline first before launching higher.

The bear option:

The ED is complete and the market should flush early next week.

6/13/14

Bears captured the first trendline. Can they reject price on the backtest?

The bulls still have two options. A wave i of 5 or a wave iii of a larger ED.

6/12/14

Been out of town. Backtesting the upper trendline. We'll see if it holds.

Daily

Those who believe in the ED wanna see the yellow trendlines fail.

ED