11/4/14 - AM Update

[12:12 PM] - Three prior touches on the mid-channel. Will this time be different?

12:12 PM - 5 Min 

[12:05 PM] - Just to clarify the options. Green, red and blue.

If another leg down were to come, it projects to 2000-1990

12:05 PM - 1 Min 

[11:39 AM] - For the bulls, not the best looking impulse up on the bounce so here are some options for the bears. However, if the bulls can defend 2000, I think this could just go range bound between 2020 - 2000 to form wave ii or b on the 5 min chart.

11:39 AM - 1 min

[8:21 AM] - Bulls need to clear 2013.68.

8:21 AM - 1 Min 

[8:09 AM] - The third wave extension target at 1.618.

8:09 AM - 1 Min 

[8:00 AM] - The end to five waves up looks good. Now approaching the mid-channel and 2000 back test.

8:02 AM - 5 Min 

[7:31 AM] - May only be the end of wave 1 of [c or 1 of {iii.

7:31 AM - 1 Min 

[6:59 AM] - Taking the wedging pattern into consideration.

6:59 AM - 1 Min 

[6:47 AM- Its possible wave {i is not complete yet.

6:47 AM - 1 Min 

11/3/14 - EOD Update

As I tweeted earlier, I believe there are five tiny waves down. We'll see if wave {i or a has completed. The hourly MACD is showing -ve divergence as well.

1 Min 

5 Min 

60 Min 

11/3/14 - AM Update

[11:46 AM] - We'll see.

11:46 AM - 5 Min 

[10:43 AM] - Nothing to really add today so far except for this potential wedging pattern.

10:43 AM  - 5 Min 

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