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Wednesday, October 14, 2009

Elliott Wave Update ~ 14 October

The VIX almost closed flat today.

My max price is 1108 for the count that I show using the orthodox wave 2 low. The subwave squiggles supports my larger count of a P2 target of 1098. We are close.

Dollar, oil , VIX, equities and GOLD all made more advances toward their final "targets".

Nice Fib expansion ratio of 1.618 at today's high of 1093. Almost to the decimal.

And the qqqq's hit the exact 61.8% fib retrace from Oct 2007 qqqq high with a $43.29 price.

The transports have yet to confirm the industrial's high. Close but not just yet.

That was one HUGE uncovered gap up today of over 5 SPX cash points. Breakaway/runaway gap up? Exhaustion gap?

Due diligence on your part. (I think its more exhaustive)

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