29 Apr 2014

ST is maintaining an uptrend from yesterdays low.  Nothing has changed in trend, but we are overbought on an intra-day level.  We should look for an exit of this overbought level before shorting can be initiated as overbought conditions almost always accelerate prices higher faster.

MT: DOWN
ST: UP
PA: UP

I have deleted the sub-wave counts from yesterday as they are not that important for now.  But you can use it as a reference if you'd like.  If the counts get clearer we can add to it, but for now it just helps to confuse people by having so many counts posted on the chart just like I had in March where there were tons of abc's.  Fortunately though it worked out for us.  For now we will concentrate on our indicators to simplify things.