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Monday, October 8, 2012

Elliott Wave Update ~ 8 October 2012 [Update 5:33PM]

Update 5:33PM: Nice impulse down on the SPX:
Prices perfectly bounced off the top of the upper wedgeline on the SPX.
Wilshire chart shows that if this is still Minor 4 playing out, it may take the shape of a long-winded triangle with prices hovering around QEternity Day support and gyrating around the upper wedgeline as shown on the SPX above.

The green up channel is now a key price marker. Prices may migrate back toward it. If it fails to support, look out below. The market has a way of failing to record that final wave.

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