The Market Pulse

Reminder Announcement :

1. I will be vacationing from June 28 - July 12 and this is my last blog post until July 13. 


The Market:

Here is an updated chart at the 240 minute level where I have w.4 complete. The most recent price action from that crest is uncertain and the possibility exists that a triangle is forming which would slightly alter the wave labeling as w.4 would still be unfolding. Regardless, the larger trend will remain down and requires another print below1252.25 to complete a five wave sequence.

Here is the triangle interpretation at the 60 min. chart level. A print below 1261.25 negates this view and implies that w.5 was unfolding under the previous interpretation and that the rise from the 1257 low is just w. ii of w.5. ( see 240 min chart level above).

Best of Trading