INTRA AUG 14

Update 3pm:  Sell signal this morning is still intact.  Prices are hitting the 200ma on the 60min chart expect a support to form.  How long it will stay there is not our concern.  Once prices breaks down from there a full sell would be triggered for a 1655 target or within the area. The reaction date we are expecting is for a major move so I would not be surprised if it just keeps going, but again we must follow our indicators to the T.

Sell signal confirmed at 10am

Please be aware of the volatility in the current markets.  An EW pattern looks corrective to the downside and could cause prices to shoot up.