AI
Friday, January 16, 2015 11:38:34 AM
Pretzel update:
http://www.pretzelcharts.com/
"Ran a little short on time today, so I'm going to let the charts do all the talking. I actually outlined the options in detail, along with some signals, on the 5-minute SPX chart.
Let's start with the INDU chart, since it's less cluttered. Blue expanded flat count is still on the table:"
"The SPX 1-minute chart from yesterday, with the addition of a subdividing black 1 and black 2. That count looks like a reasonably viable option at present."
"And the SPX 5-minute chart, which covers the options/signals/targets in detail. The preferred count (expanded flat, shown on INDU) isn't discussed on this chart, as that count is covered on the other charts -- and do note that none of the bear options become an issue as long as 1988 holds.
I covered the bear options here for the sake of being thorough."
"In conclusion, there are a lot of options for the near-term, but the intermediate term still remains decidedly bearish. I'd still love to see the previously-discussed expanded flat play out (see yesterday's update if you missed it). Trade safe!"
http://www.pretzelcharts.com/
"Ran a little short on time today, so I'm going to let the charts do all the talking. I actually outlined the options in detail, along with some signals, on the 5-minute SPX chart.
Let's start with the INDU chart, since it's less cluttered. Blue expanded flat count is still on the table:"
"The SPX 1-minute chart from yesterday, with the addition of a subdividing black 1 and black 2. That count looks like a reasonably viable option at present."
"And the SPX 5-minute chart, which covers the options/signals/targets in detail. The preferred count (expanded flat, shown on INDU) isn't discussed on this chart, as that count is covered on the other charts -- and do note that none of the bear options become an issue as long as 1988 holds.
I covered the bear options here for the sake of being thorough."
"In conclusion, there are a lot of options for the near-term, but the intermediate term still remains decidedly bearish. I'd still love to see the previously-discussed expanded flat play out (see yesterday's update if you missed it). Trade safe!"
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