Custom Search

Wednesday, August 17, 2011

Elliott Wave Update ~ 17 August 2011

The market popped above 1200 SPX as I suspected it might. It made it to 1208 but that would be about an ideal price peak for a Minute [iv].  Any further upside stabs above the 1208 high today doesn't fit well with a continuing Minute [iv] count.
 Exploring the alternate Minor 2 count we likely had an [a] wave peak today in some form or another.

The upward tilt of "threes" over the last few days count well as an expanding ending diagonal which is why I labeled it the way I did.
SPX daily from the Minor 2 perspective and assuming an approx 62% retrace. Timing is a guess it could well take much longer.

blog comments powered by Disqus