7/23/15 - EOD Update

Danny's recent comment got me off my butt tonight. Unfortunately not much to add though.

Since my last two posts,  I was tracking the wedge and introduced a potential flat count for the market implying that a bounce may come. Sure enough we got the bounce.

After the bounce occurred, the market climbed back towards the top of the range I have been tracking. I figured the market would pullback, the question was to what degree.

So far its back towards the middle of the gray range and the 50 DMA.

60 Min 

7/17/15

Looks like we got that blast out of the wedge I was tracking. Now back at the top of the grey range. Looks expanding too. Lets see what sort of pause/pullback we see here.

Out of longs.

60 Min 

7/9/15 - EOD Update

Not much to add the past few days with all these massive whipsaws but one thing I'll be watching is the large wedge forming. Could it complete and ED for C or a Leading Diagonal (unlikely) for a larger correction to come?

Either way I wouldn't mind playing that bounce should it come.

60 Min 

7/6/15 - AM Update

[8:03 AM Update] - This would be the general plan. If we see a fifth wave up and then a retrace back to 2072-2067, I will take a long position at the wave 2 or b bottom.

8:03 AM - 1 min

[AM Update] - Looks like Grexit has been shrugged off so far by the market and buyers have stepped in at the 200 DMA. Price has also returned to the bottom of the range again.

The bears are not out yet. Looks like there should be one more bounce to challenge 2100.  So for now, positioning for a bounce here may not be a bad idea.

Daily