Stock Market Analysis With The Elliott Wave Principle -Dow Jones, S&P 500, Russell 2000, Nasdaq and FX. All charts and commentary on this site are strictly the opinions of the author(s) and are for recreational purposes only. In no way should this be construed as trading advice or a recommendation for investing. See disclaimer at the bottom of the page.
Monday, July 27, 2009
Minuette Wave IV Triangle
As I mentioned in Dan's blog earlier in the morning, this alternative count appeared to be valid as well. Given the action into the close, I will have to change this to my primary count.
http://danericselliottwaves.blogspot.com/2009/07/e-minis_27.html#comments
WaveTrader said...
" and as the morning has progressed, i do see an addtl count:
this morning's high may only be the top of minuette iii of minute v. what has transpired since this am's high is minuette iv (forming a triangle) of minute v.
so in the end:
a break above 982.49 will confirm that
or a break below 965.95 confirms minute v was in at 982.49"
July 27, 2009 12:42 PM
An alternative to this would be a flat structure beginning at the 98.40 high. But for now, my primary count is a triangle minuette iv in progress with a minuette v due sometime tomorrow.
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