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Wednesday, January 18, 2012

Elliott Wave Update ~ 18 January 2012 [Update 5PM]

[Update 5PM: The dollar looks like it wedged. There is still that pesky gap down below.
(c) = (a) @ 1310.77 SPX within zigzag [y] of Minor 2 up.  On the Wilshire 5000 (c) = (a) @ 13,783. 13,783 is a long-term important price zone.

Sentiment measures are no doubt screaming today on short, medium and intermediate time frames.

Lets go to the best case counts:
Wilshire squiggles:
Long term Wilshire5000 shows a key resistance zone:
Current hourly Wilshire:
Double long term negative divergence exists on the NYAD.
Even Apple has a potentially complete wave count in place:
What about the banks? Are they now tipping their hands in leading down a bit?
DJIA upon the long-term line from 2007 top:
Up close look at the same lines: 
It may just all come down to a simple SPY gap challenge/close:
SPX daily. The apex is coming up tomorrow perhaps.

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