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Wednesday, January 29, 2014

Elliott Wave Update ~ 29 January 2014

The Wilshire short term count. Would count better if it made a lower low.
I certainly haven't forgotten about the best bullish alternate count that we are nearing Minute [iv] low of Minor 5 up.  In that case the Intermediate-sized channel would likely hold support.

If support is not held, a significant price drop could be the result due to loss of technical support. I.E - "panic time"

Via Sentiment Trader, today's NYSE margin situation chart. Yeah, the market is quite leveraged ya think?


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