19 Aug 2014

Prices continued higher as sentiments expressed the same as well.  Nothing new, but the window for 2nd waves are approaching an end game.  A higher high would negate the count but opens up a 5th wave count again and we would again look for a 5 wave advance in the structure.  There are more options in EW than flipping a coin, and we can see who's got the edge here when it comes to outcome probability. We have not even hit an overbought on a daily scale, and would need to see a reversal soon for bears to have their day.  If we hit overbought then we might see the capitulations of the bears.  So I point out that this week is important for the bulls and the bears alike.

MT: DOWN
ST: UP
PA: NA