12/7/15 - AM Update

7:00 AM - In case you need a visual of the five waves. Here is the 1 min chart. Pretty clean.

7:00 AM -- 1 Min 

6:50 AM - Last week I was looking for five waves to complete on the rally.

5th of fives waves up underway for bulls now from yesterdays low. Buying the dip if it comes

— Grand (@grand680) December 4, 2015

The market extended a little bit higher so we'll see if this is wave {ii green playing out with today's dip.

The competing count is that wave {iii red is underway for wave -c red. I'm leaning towards buying the dip first since there is a triangular/consolidating pattern to this. Hopefully can get 50% retracement near 2070. We shall see.

6:50 AM - 60 Min 

12/3/15 - EOD Update

The long trade today for the quick bounce was short lived. As I posted earlier in today's AM Update there was a potential for a larger flat in the works on the 60 min chart. I have updated the chart below to highlight that count.

The flat for the 15 min count is not out yet. On the 60 min chart below it is represented by wave -ii blue. That option is out if price drops below the wave ii green or wave -a blue low. That level is 2019.39.

60 Min 

The daily chart below could truly disappoint the bears should it play out as a large H/S or excite the bears with a rounding top.

12/3/15 - AM Update

6:55 AM - The bulls are being challenged by a bearish five wave count down, however, it may just be a wave c of an expanded flat.

I have updated the bull count to reflect the expanded flat, which makes decent sense considering wave -a green looks like three waves and wave -b green also looks like three waves. We shall see.

The 200 day SMA is near 2065 so there maybe support here.

15 Min 

 However, on the 60 min chart below, a much larger flat could be in the works and if that is the case, wave c could target 2020 again.

12/1/15 - EOD Update

Got the neckline break on the yellow inv H/S. We'll see what she does not at 2100.

Upper daily Bollinger Band near 2120, which is near the target for the yellow inv H/S. Daily MACD about to cross up.

15 Min 

Daily