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Friday, November 12, 2010

Elliott Wave Update ~ 12 November

So far the move off the top looks like a zigzag.  It could comprise the whole of wave [a] but I bumped the wave degrees down one notch for now for appearance sake.  Overall, I'm looking for an eventual move lower toward at least the 1170-1180 range for a price low for Minor 4.

I'm thinking maybe one more gap down Monday and then bounce and move up in a wave [b] of Minor 4 perhaps.  Correctives can take so many forms that its hard to say what will transpire.
NYAD count is moving along nicely. There need not be alternation present in the NYAD count so can be a zigzag too.
NYAD Daily.
I finally can see a weekly wave 4 bump on the chart

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