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| 7:51 AM - 5 Min |
[5:41 AM] - ES Update. Looks like wave -v is extending.
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| 5:41 AM - ES |
Tuesday, October 21, 2014
10/21/14 - AM Update
[7:51 AM] - The bears lost their impulse count. The best they have now is a nested 1-2 down but I wouldn't put too much on that. The only other option at the moment is that this is a wave x or b bounce as I have presented on the daily should the market trade in the range (1925-2020) I previously mentioned.
[5:41 AM] - ES Update. Looks like wave -v is extending.
[5:41 AM] - ES Update. Looks like wave -v is extending.
Monday, October 20, 2014
10/20/14 - EOD Update
[9:03 PM] - A look at ES tonight. Looks like five waves up completed.
[EOD Update] - Busy day at work for me today.
This is still a pretty choppy bounce that is just under the 200 DMA but I think wave -iii ended today for the blue count and still watching the inv H/S. If the red count is still in play, it cannot breach the red horizontal line. This would be a good place for red to start red {v.
1926.03 is the level that bulls need to clear to invalidate the bears larger degree five wave count down.
[EOD Update] - Busy day at work for me today.
This is still a pretty choppy bounce that is just under the 200 DMA but I think wave -iii ended today for the blue count and still watching the inv H/S. If the red count is still in play, it cannot breach the red horizontal line. This would be a good place for red to start red {v.
1926.03 is the level that bulls need to clear to invalidate the bears larger degree five wave count down.
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| 60 Min |
Friday, October 17, 2014
10/17/14 - EOD Update
[EOD Update]- What a wild week. Looks like the bulls are trying to make a stand here. We'll see if they can get it over the 200 DMA next week.
The bulls have the inv H/S in their favor, a possible completion of wave w or a for (4) and a weekly hammer candlestick right above the 50 WMA.
I'm not too confident of my blue count on the 5 min chart. It is quite choppy but if the bulls are to launch higher next week, we will have to assume there are a series of nested 1-2s in there.
As I posted on Weds, if the bulls manage to rally next week, I will still be prepared to trade the range between 1825-2020. We'll see.
As for the bears, they have been able to sell the rallies over past few weeks. Price is still contained within the descending channel (tho bulls are threatening to break out of it) for what may have completed wave {iv.
The bulls have the inv H/S in their favor, a possible completion of wave w or a for (4) and a weekly hammer candlestick right above the 50 WMA.
I'm not too confident of my blue count on the 5 min chart. It is quite choppy but if the bulls are to launch higher next week, we will have to assume there are a series of nested 1-2s in there.
As I posted on Weds, if the bulls manage to rally next week, I will still be prepared to trade the range between 1825-2020. We'll see.
As for the bears, they have been able to sell the rallies over past few weeks. Price is still contained within the descending channel (tho bulls are threatening to break out of it) for what may have completed wave {iv.
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