Thursday, January 15, 2015

EOD Jan 14, 2015: Up, Up and Away?

Looks like the pattern has enough waves to be considered completed. 
"UP UP AND AWAY til Jan 26?"

The *one* issue which gives me "pause" in this pattern is (B) of {Y}.  That pattern looks more like an H&S type than a Contracting-Tri type.

An H&S type would require wave (E) of {Y} to become larger  than is shown here...


However, (B) is such a minor degree intraday pattern that visibility into its "type" is imperfect, and thus im not sure whether this is worth considering heavily, especially since both Larger-Degree TIME CONSIDERATIONS and Larger-Degree PATTERN POWER PHYSICS from {X} (as an Expanding Tri Success) dictates the bottom should have been in already.


THUS, my concerns about (B) of {Y} are "overruled"  by Larger-Degree considerations, and I AM HOLDING LONG FROM ENTRY EARLIER TODAY (Avg price around 1990, stop 1970), with knowledge that there may be another retest back toward the low tomorrow if B of {Y} was considered H&S.


Prioritizing different inputs is critical to good wave analysis. 
"The Larger-Degree Rules the Smaller"

CRITICAL UPDATE at 1:25AM EST: CLOSED LONGS AT 2023 because of the potential for (B) of {Y} as H&S to cause an acceleration back down following this movement up. Read comments for details on re-entry. Still think longer term going back to ath




UPDATE AT 1:25AM EST - POSSIBLE RETEST BACK DOWN IN AM DUE TO (B) of {Y}  POWER RATING. 

VERY UNSURE -- SO GOING FLAT FOR NOW 




Posted earlier:

Back to the ATH?