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Tuesday, November 24, 2009

Elliott Wave Update ~ 24 Nov


Its all starting to look and feel like giant triangle waves. Everything has that "three" look about it even in the sub squiggles. This would be consistent with a Minor B of (Z) of [2]. So a long sideways consolidation around the 1100 level. It could wind up being a double three of some sort also developing.

Support at 1086-1088 and resistance at 1110-1113. A trading range for now and I am not sure the low volume holiday market this week can break either range up or down.

However I do expect some action on Monday the 30th and again on the 1st of December.
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