10/27/14 - EOD Update

As I tweeted earlier today, many options on the table up here. For now, the preferred is a triangle is playing out for wave -iv.

The other two options are a double zigzag (green) and a last ditch red count option.

5 Min 

10/27/14 - AM Update

[12:23 PM] - Too many options now so have to wait and see. Added the green option. Though I have it as [c, probably should be a wave [y if it gets there.

12:23 PM - 5 Min 

[11:32 AM] - If prices don't collapse here, that triangle is looking pretty good with a fairly complex wave c.

11:32 AM-  5 Min

[8:39 AM] - A new count for the bears so bulls need to take out 1970 and/or 1977 just to be sure. Wave [c of -ii red is an ED with a truncated fifth.

8:39 AM - 5 Min 

[7:20 AM] - We'll see if wave -iv turned into a flat or - v is complete.

7:20 AM - 1 Min 

7:20 AM - 5 Min 

10/24/14 - EOD Update

What a week for the bulls. They printed one large green candlestick following the previous week's hammer candle.

I think the bulls are looking to complete five waves up right near 1970. I have relabeled my squiggles just a tad to make it easier, rather then listing several alternates. I basically have wave - ii as a running flat.

The bears are in danger of losing their nested 1-2 i-ii count. I'd say a challenge of the ATH is in order especially if the 50 DMA can be recaptured. Daily MACD has also been confirmed on the cross up.

5 Min 

60 Min 

 I don't think wave (4) is complete yet so there may be a flat forming as highlighted on the 60 min chart above. However, if wave (5) is underway, buying on a pullback of this current leg up won't hurt if you can capture the third wave to challenge the ATH or make a new ATH.

Daily

 Here is the daily for perspective

Weekly

10/24/14 - AM Update

[6:49 AM] - A poke above yesterday's high may mean it is extending.

6;49 AM - 5 Min