13 Mar 2015 - Bad Day For Some Good Day For Others

We had a nice rally at the end of the day, but was this enough to turn the tide around? In my opinion I doubt it.. But my track record according to what I am feeling is not as good a track record as compared to the indicators we use.

The following is my observance that is of importance;

- The ES made a new low, but the cash did not.  I noted that a late day sell-off would keep the data in sync with each other.  This however did not happen so I am looking for a lower low next week (My opinion).

- The pattern created by both ES and SPX to the down side is impulsive yet the SPX was followed by a corrective pattern.  Could this be an abc for a 2nd sub-wave of a v-wave or Green 5th wave? Again this is speculation and an assumption that the count is right, which we cant get married to.

- Lastly our ST is still in a downward trend and has not changed direction.

With the 3 arguments above I would say that we still need a lower low, but the most important of all is the last point made.  ST is our strategy and an exit of OS would trigger our short covering or long entry.

The intra-day charts shows an up-trend in progress, but because this is in affect for a few hours to days, it would still have time to change course by the start of pre-market hours on Sunday on the ES charts. So lets watch this development to see how we can stay ahead of the game.

Finally in conclusion the trend is still clearly down with our MT-Main Trend still down, and the ST still at OS territory.  This syncing is what creates good trigger and accelerative signals.  Counting is good practice, but is biased to what the eye wants to see often than not.  If I can get the current count right on the dot, it does not mean I can give myself the title of greatest EWI theorist around.  Even though I am confident with my EW counts there is a reason it is called "Theory" I suppose.

MT: DOWN
ST: DOWN
PA: DOWN

The Bears need the intra-day charts to turn down or enter OS once more.  As for the Bulls, they would need for the intra-day charts to resume its upward uptrend that is currently playing out, but most importantly need the ST to confirm the Bulls are in the game.

Bonus for those that like numerology: 3.1415 or
http://www.businessinsider.com/once-in-a-century-pi-day-2015-3