Custom Search

Wednesday, April 11, 2012

Elliott Wave Update ~ 11 April 2012

We may have had 5 waves down in a Fibonacci 5 days.  If this is a corrective up wave (ii), then we can expect it to last maybe a Fibonacci 3 days and fail to retake resistance at Wilshire 14,560.
14,560 is the May 2008 and May 2011 peak.
If any rebound can retake this resistance and hold as support - the market is likely heading toward Minute [v] peak.

Another lower low under yesterday's low helps the bear cause. It would cause this parallel channel to be suspect and it would challenge the key pivot support.

blog comments powered by Disqus