Prices shot up overnight due to Greece signing the contract with the devil. Apparently this is good news... Nonetheless, prices are now below the 75 day MA. This is crucial and needs to break above for bulls to have the edge.
I was expecting a lower low scenario, but again any EW must be taken with a grain of salt due to the fact that there are numerous options and counts available to us, and picking one out of more than two decreases the odds of making the right count.
The 30wk MA has held the support, and the wedge pattern I was anticipating has been negated. The ST will surely turn UP today barring there is not volatile reversal.
On an EW format one cannot rule out that the bottom we had was a C-wave of sorts, and probably a 4th wave with HH to come. Again this is just based on what I see forming and just an opinion. The arbiter in this is our signal which is a better gauge of the direction prices are going.
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