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Wednesday, December 12, 2012

Elliott Wave Update ~ 12 December 2012

If this is Minute [ii], then it should be about over. The retrace was well above 61.8%, Time factor has been ample and overly bearish sentiment has been shaken out more than sufficiently.

We have a decent double zigzag for Minute [ii] as the primary count and there are sufficient waves in place to consider it finished.
Wilshire 60:
Finally some interesting movement in the 6 month rate chart, Interest rates will, of course, be the financial system's downfall as we are seeing in Europe.  The FED can influence stock prices, they can influence a lot of things, but they cannot influence it all at once. The market is simply too big.  Eventually it will all get out of hand.
A bearish setup in Breadth and long shooting star candle.

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