Wednesday, August 8, 2012

Charts 8-08: rally into Friday?

Was that a 4th wave triangle today?

A positive UE claims report in the morning -- good news? bad news?  who knows? -- will give us enough gas to hop over resistance and rally into Friday.

After that?  I'm bullish ... on the ^VIX.

A weak W3, but still a legal 5-wave impulse


Daizedog said...

Love this count as I came up with the exact same one earlier today. I think it is clean. We will see in the next couple days

christiangustafson said...

What a snoozer ... wave 4 triangle still in progress, sir.

Looks like the market, she wants another week, could top into August op-ex and the New Moon.

I'll chart it tonight.