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.
Thursday, July 23, 2009
Where Are We Headed?
Well it looks like the market pulled a fast one on us today. My count has been updated and I believe that we may have finally arrived at minute v.
Microsoft, Amazon and American Express are all trading lower (disappointing earnings/revenue/etc) after hours as of this writing. This should affect the market tomorrow and may be the catalyst for a cool down from this monstrous run up and sets us up for wave 'b'.
We ended the day with what appears to be an expanded flat with Wave 'c' in progress. However, this potentially may be the reversal that sends us lower in a 5 wave impulse.
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