The collision of global markets and social mood

Monday, January 28, 2013

Today's Post In Two Charts

This was last week's scenario.

This is what it looked like as of 4pm Friday.

If this wave count is correct, it should be quite clear today or tomorrow, and is why I always try to trade with an expectation. Even when the expectation turns out wrong, that tells me something too.

Impulse waves count to 5. Therefore, this count is a best-case scenario for bullish price action. However, it wouldn't take much for it to get negated and indicate a much different outcome.

1485.16 remains the stop for this scenario.

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