11/1/14 -

As I suspected, the market was not going to let more bulls in and ran straight for 2020.

I just reviewed my weekly long term chart and completely missed the gray channel. I relabeled the chart and believe an expanded flat was completed for wave 4 of (3).

So it is very possible that we do not see a meaningful pullback or a flat as I had been expecting on the 60 min chart below. This may just run up to a new ATH and tag the upper end of the gray channel , which is at approx 2040 on the weekly chart.

Of course what I would like is for this leg to complete here at 2020 to complete wave 1 of 5 of (3) followed by a wave 2 pullback. We'll see if that happens.

5 Min 

60 Min 

Weekly

10/31/14 - AM Update

[8:55 AM] - Breakdown out of the little ED. We'll see.

8:55 AM - 5 Min 

[7:32 AM] - Taking a stab short here. Why not. *Corrected the blue labels for another extension option.

7:32 -5 Min 

[7:08 AM] - We'll see if it tries to tag 2019ish.

7:08 AM - 5 Min

[5:30 AM-Pre Market] - As I posted yesterday, the market is most likely extending and may shoot for 2010-2020 before a larger pullback. So far ES is backing that assertion.

5:30 AM - ES

10/30/14 - EOD Update

2:36 PM: Here is a look at ES with an extended fifth.

ES

EOD Update: As I posted yesterday, if the bears failed to break 1968, I wouldn't be surprised if the market continues to track up the channel, which it is now doing.  I am also looking at additional extension potentials, the new green alternate and a new potential triangle.

The market may not give those waiting to buy the right shoulder a chance either. It has pushed thru all the near term pivot points and may just challenge 2010-2020 before a larger pullback so we'll have to see.

5 Min 

60 Min

10/30/14 - AM Update

[10:59 AM] - I remove the wave [b bounce as an option. Earlier I tweeted the possibility of a nested 1-2 and yesterday the possibility of the market just climbing up the channel. So far this appears to be the case. The market may be extending here.

10:59 AM - 5 Min 

[7:43 AM] -  Possible triangle wave [b

7:43 AM - 1 Min

[6:55 AM] - Possible rising wedge for wave [b.

6:55 AM - 1 Min