Same pattern that preceded those recent Fed decision meltup days. Makes lower low earlier in the session, rallies and then drops into the close but not making new intraday lows…..the formation of a A up B down, then C up???
The Nasdaq followed suit. Traded down to lower BB and below 50 day average only to finish the day above the 50 day average. 3 down days off the top. There should be a big pop tomorrow with Apple being the catalyst? I heard Apple was downgraded earlier on the day….just so happening before its earnings release after the close.
I’m looking for a choppy day today, with a smaller wave 1 up and wave 2 down to happen. Then a smaller wave 3 up all day Tuesday, with the smaller wave 4 down and 5 up to happen before Bernanke speaks at 2:15 pm on Wednesday. This should make up a larger wave 2 up from the low on Friday and setup a larger wave 3 down to happen into the close and to the end of this week.
SPY Analysis after closing bell: http://niftychartsandpatterns.blogspot.in/2014/01/spy-analysis-after-closing-bell.html
Same pattern that preceded those recent Fed decision meltup days. Makes lower low earlier in the session, rallies and then drops into the close but not making new intraday lows…..the formation of a A up B down, then C up???
The Nasdaq followed suit. Traded down to lower BB and below 50 day average only to finish the day above the 50 day average. 3 down days off the top. There should be a big pop tomorrow with Apple being the catalyst? I heard Apple was downgraded earlier on the day….just so happening before its earnings release after the close.
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ES update: http://niftychartsandpatterns.blogspot.in/2014/01/es-chart-update_27.html
Best guess for the bounce high is 1810 area: http://screencast.com/t/JEc4Zc3e
Certainly worth referencing again: https://fbcdn-sphotos-h-a.akamaihd.net/hphotos-ak-ash3/t1/q71/s720x720/577345_726498254041800_1296696738_n.jpg
I’m looking for a choppy day today, with a smaller wave 1 up and wave 2 down to happen. Then a smaller wave 3 up all day Tuesday, with the smaller wave 4 down and 5 up to happen before Bernanke speaks at 2:15 pm on Wednesday. This should make up a larger wave 2 up from the low on Friday and setup a larger wave 3 down to happen into the close and to the end of this week.
GOLD Trend Analysis: http://niftychartsandpatterns.blogspot.in/2014/01/gold-trend-analysis.html
ES Chart analysis: http://niftychartsandpatterns.blogspot.in/2014/01/es-chart-analysis_27.html