2 Dec 2014 - Surprise Surprise...

Well not really...  Looks like I had the wrong EW count yesterday, but I can't say I was surprised.  As most of you know, that I advocate not relying on counting wholeheartedly.  We could still be in a corrective phase whereas yesterdays count had us pretty much done.  The triangular pattern looked liked one until it didn't.

Todays analysis has me placing the corrective count as a longer processing ABC.  I am basing this on the fact that our ST is still pointing down.  Of course any higher high eliminates these counts and will most likely turn our ST back to a bullish position.  Therefore we would need for prices to move lower tomorrow or the ST is in danger from todays move up.

MT: UP
ST: DOWN
PA: DOWN

5 Minute:

60 Minute:

BONUS: DEBT