8/13/14 - EOD Update

Let's see if the bulls can muster up a wave {iii of c to challenge the 50 day SMA. Note the 20 day has cross down and thru and currently sits at 1952.

I will also keep an eye out for any potential rising wedge.

5 Min 

60 Min 

Will the inverted H&S play out?

8/13/14 - AM Update

[12:10 PM] - Let's see if a wave {iii of c is setting up here. If you missed the boat on that previous dip, this may be another opportunity.

12:10 PM

[7:10 AM] - Here is a projection for wave c yellow. It equals a at 1968.

7:10 AM

8/12/14 - EOD Update

I think the best count at the moment is the double zigzag for wave b yellow, which forms the right shoulder of an inverted H&S.

As posted earlier today, the wave structure is complex so it fits best as a corrective. It may even chop around some more and may target the lower end of the blue channel.

As suggested earlier this AM, this was probably a buyable dip. Lets see if this trade works.

5 Min 

8/12/14 - AM Update

[9:07 AM] - I haven't forgotten about the bears. However, keep in mind the current [i-[ii-[iii red count can easily be substituted with an a-b-c. The difference will be whether the bears can make waves [i-[ii-[iii[iv[v without a wave [iv overlap into [i red.

9:07 AM - 1 Min 

[8:21 AM] - Forgot to mention the potential IHS forming too.

8:21 AM

[8:11 AM] - This is how I'm counting the yellow count for wave b yellow.

8:11 AM -1 Min 

[8:02 AM] - Here comes wave b yellow or [iii red. Buyable dip?

8:02 AM