So lets see if there is another buying opportunity here as the right shoulder of a larger inv H/S is set. It can find support anywhere in between 1925- 1875.
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| 5 Min |
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| Daily |
Thursday, October 23, 2014
10/23/14 - EOD Update
After a choppy yet sharp bounce, it looks like the market has now completed five waves up near the inv H/S target and just under the 50 DMA. As I posted yesterday, I wanted to see wave -v complete first, which it appears it has now done.
So lets see if there is another buying opportunity here as the right shoulder of a larger inv H/S is set. It can find support anywhere in between 1925- 1875.
So lets see if there is another buying opportunity here as the right shoulder of a larger inv H/S is set. It can find support anywhere in between 1925- 1875.
10/23/14 - AM Update
[12:06 PM] - Looks good for five completed waves at a logical pivot point. Looking for another dip to buy.
[9:20 AM]- ED provided the road map and cash followed. Looking good so far. I rarely buy wave 4s but this one worked out.
[6:27 AM] - ES on track to print five waves up.
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| 12:06 PM - 5 Min |
[9:20 AM]- ED provided the road map and cash followed. Looking good so far. I rarely buy wave 4s but this one worked out.
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| 9:20 AM - 5 Min |
[6:27 AM] - ES on track to print five waves up.
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| 6:27 AM - ES |
Wednesday, October 22, 2014
10/22/14 - EOD Update
Today's pullback looks like a wave -iv so far in cash and emini and may have set the right shoulder as mentioned last night at 1925.
We could see a back-n-forth here to consolidate some so will be looking for that in the 1925-1970 range. However, I'd like to see wave -v set first and then a pullback to consolidate within the range.
We could see a back-n-forth here to consolidate some so will be looking for that in the 1925-1970 range. However, I'd like to see wave -v set first and then a pullback to consolidate within the range.
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| 5 Min - SPX |
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| 60 Min - ES |
Tuesday, October 21, 2014
10/21/14 - EOD Update
[7:22 PM] - ES Update
[EOD Update] -The bulls recaptured the 1926 level and have now wiped out the bear's impulse count potential.
The 5 min chart shows a wave -iii that could be extending to the top of the inv H/S target (1965-1970). If not, I have a feeling wave -v will get there, which would coincide with a backtest of the 50 DMA.
Note that a larger inv H/S may be in the works with the neckline set at 1970 with a right shoulder that may tag 1925.
The daily picture shows a MACD crossing up from oversold levels. Just a reminder of the range I have been talking about between 1825-2020. We could be seeing a test of the ATHs in what may be a flat or triangle in the works for wave (4).
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| 7:22 PM - ES |
[EOD Update] -The bulls recaptured the 1926 level and have now wiped out the bear's impulse count potential.
The 5 min chart shows a wave -iii that could be extending to the top of the inv H/S target (1965-1970). If not, I have a feeling wave -v will get there, which would coincide with a backtest of the 50 DMA.
Note that a larger inv H/S may be in the works with the neckline set at 1970 with a right shoulder that may tag 1925.
The daily picture shows a MACD crossing up from oversold levels. Just a reminder of the range I have been talking about between 1825-2020. We could be seeing a test of the ATHs in what may be a flat or triangle in the works for wave (4).
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| 5 Min |
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| 60 Min |
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| Daily |
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