Saturday, May 14, 2016

MTU Weekend Ed. - Pullback Scenarios (5/13/16 close)

We continue to track either the small or the larger ABC pullback highlighted in Chart 1. With respect to short term trajectories, bursts of 3-wave swings in May hint at potential triangles. The pink bearish expanding triangle in Chart 2 looks particularly interesting (partially due to the fact that other indexes have made lower lows already).