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Wednesday, December 22, 2010

Elliott Wave Update ~ 22 December

[Update 6:15PM: A few more charts I whipped up.
SPX resistance at 1265, post Lehman day bounce high.
NDX. Needs to take out the 2007 high. Came less than a point today (according to my stockcharts data anyways)
Its all the same.  CRB even has 5 waves going for it.
The squiggles are starting to clarify Minute wave [v] of Minor 5.

Here is a best-guess SPX count of Minor 5 so far:
The structure is a very nice EW pattern. Within Minor 5 of the Wilshire, today's high made [v] = [i] by less than a point.
Now there is no doubt about the NYAD. It has its shiny new high.
But now even the weekly shows a new high which I was also waiting for. Every squiggle is in place for the extended Primary wave [5] within cycle wave V.
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