28 Mar 2014

The call for higher prices in the morning came to fruition, but our lower low expectation for Friday did not.  Without the new low, we would be better to expect an ABCDE pattern to be the dominant form.  Our trend is still bearish, and based on our experiences the indicators have a better success rate than our EW analysis.  As we alter our EW count, it doesn't mean we do not have a good count, but time is what stretches the count we know to be right or believe to be a high possibility. 

MT: DOWN
ST: DOWN
PA: DOWN

Bullish / Bearish Count...

Likely Count....

 

Scenario from the last few days that is still in play...