9/4/14 - PM Update

[12:38 PM] - Should it bounce, we should be mindful of the potential H/S.

12:38 PM

[12:24 PM] - Still basing and can still be a wave iv flat.

12:24 PM

9/3/14 - AM Update

[9:07 AM] - A bigger picture view to make sense of this chop. May just be a larger wave iv triangle. If so, wave {c or {d should be complex.

9:07 AM

[8:49 AM] - Looks like the flat was complete and possible wave v is complete. Let's keep an eye on that 10 pt range though (1990 - 2000).

8:49 AM

9/2/14 - EOD Update

As suggested last week, the market may be forming a base around the 1990-2000 level. It may be accomplishing this via a flat or a triangle.

Some of my intraday charts today may suggest that the flat is complete,  however, the larger triangle may also be in play. The market is near the upper end of the range now.

Will there be one more dip with a higher low? If so, that would certainly support the triangle.

If 1990 is breached, wave c of the flat will be deemed incomplete as of today and a target for that scenario would be be near 1985-1980.

5 Min 

60 Min 

9/2/14 - AM Update

[11:05 AM] - A way to count this as a complete abc wave y .

11:05 AM- 1 min 

11:05 AM - 60 Min 

[10:33 AM] - I'd say that's a pretty good case for a wave y in progress. Can simply be a wave c as well so will look for five waves down .

10:34 AM

[7:27 AM] - Still watching both options here. Either an ascending triangle in blue or the flat I mentioned last week in yellow.

7:27 AM