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Thursday, April 4, 2013

Elliott Wave Update ~ 4 April 2013

The expected oversold bounce looks corrective and the intraday oversold conditions have been relieved.  If we get an upside bias tomorrow, the underside of the wedge is a decent target.
Best bear count might be a gap up high-of-the-day open followed by a nasty all-day selloff to finish the day on the low. That would fulfill a typical 62% retrace wave ii and then a wave iii down. Time ratio would be ideal also between waves i and ii. We shall see.

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