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Tuesday, September 30, 2014

Elliott Wave Update ~ 30 September 2014

Channel line seems important and market is trying to hold it obviously.  
The market seems to be consolidating for another move - likely lower - since the previous move was down. Market internals are weak and also suggest a move down is coming. Possible squiggles:
Of course, prices have been on the precipice before and managed to hold. If they hold again this time, possible squiggle count is wave (ii) expanded flat.
Gold needs a break below 1181 to confirm the very long term count.
Nikkei counts as complete also.  Double negative RSI divergence.


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