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Wednesday, September 23, 2009

Elliott Wave Update ~ 23 September

The move from 1057 to 1080 definitely counts best as an ending diagonal. The subsequent collapse in prices confirms it, The question is, at what degree? Top of Minute [iii] of C or true P2 peak?

I'd rather think its P2 peak. The Nasdaq only half filled its breakdown gap from 2008 and that is exactly as the DOW did in 1930 when it only filled half its 1929 breakdown gap. So in that got to take pause.

The DJUSFN made a new high today which very nicely caps off a 5th wave peak.

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