Should we get a convincing break above ~1215 it's likely that wave 4 already bottomed at 1173 and wave 5 to 1245-50 (5 = 0.62*1 = 0.38*3, iH&S target) or even to 1290 (1 = 5) is underway.
Monday, November 22, 2010
S&P 500 ~ Elliott Wave Count 22 November 2010
As expected the market turned when it hit the channel line and rallied into the close. I think wave (b) finished at 1185 and wave (c) to 1212ish ((a) = (c)) is underway now:
Should we get a convincing break above ~1215 it's likely that wave 4 already bottomed at 1173 and wave 5 to 1245-50 (5 = 0.62*1 = 0.38*3, iH&S target) or even to 1290 (1 = 5) is underway.
Should we get a convincing break above ~1215 it's likely that wave 4 already bottomed at 1173 and wave 5 to 1245-50 (5 = 0.62*1 = 0.38*3, iH&S target) or even to 1290 (1 = 5) is underway.
