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Thursday, December 1, 2011

Elliott Wave Update ~ 1 December

[Update 7:45PM: Wilshire squiggle count used for superior form.  
Near term the count is looking for the (a) wave peak of the final zigzag [y] of Minor 2 up. After the (a) wave peak, we should see a (b) wave pullback.  Then (c) wave should challenge the October peak of 1292 SPX and make a nominal high above 1292 ideally.

Squiggle count shows today peferectly fits in with last night's projection of a wave iii of (a) high and then wave iv pullback.   Wave iv of (a) should ideally keep its price low above the previous subwave [4] price. Then a wave v would take the market to a wave (a) peak.

A "best guess" price range projection for wave v of (a) peak is between 1259 at the lower end and 1280 at the higher.
A look at the daily
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