3/12/14 - AM Update

[8:04 AM] - We'll see if da bulls launch wave iii to 1869.

8:04 AM

[7:00 AM] There's that move lower I was suspecting. Wave (c) now = 1.618*(a). Some support at the 20 day SMA too. We'll see if buyers bounce this back.

7:00 AM

3/11/14 - EOD Update

[2:45 PM] - Here is a 1 min view of the wedge.

2:45 PM

[EOD Update] - Looks like we finally got our wave (c) lower. So far a flat looks good for wave 2.

Not sure if wave (c) is complete yet but it did bounce at the lower gray trend line. I wouldn't be surprised if there is another smaller move lower, however, some buying into the close may have price breaking out of the falling wedge. We shall see if the bulls step in tomorrow. 

5 Min 

One thing I will be on the look out for is a larger move lower since I have been watching the diverging McClellan Oscillator. 

This may also fit in with a double top target below near 1857. 

60 Min 

60 Min 

3/11/14- AM Update

[12:10 PM]- Wave (c) looking good. Of course we must look for something more bearish as well.

12:10 PM

[8:51 AM] - Certainly a potential for a flat to play out. Wave (c) down in progress?

8:51 AM

3/10/14 - EOD Update

Though the bulls broke out of the falling wedge, I still have a feeling something is going on with da bears that may bring at least another leg lower.

Obviously a new high about 1883 would confirm wave 3 up is underway.

5 Min 

SPX - Daily

McClellan continues to diverge.

TNX

The 10 year yield is stalling just under it's 50-day SMA. So may be one more push lower for blue c of 4. This would correspond with one more push lower for the SPX