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.
Wednesday, August 5, 2009
AM Update: Poss Wave IV Triangle
There may be some room for a little more downside. There appears to be a wave iv triangle in the works. You could even call it an inverted pennant.
I have labeled the triangle sub-waves with blue and red. The blue sub-wave labels are my primary count with the red labels as an alternate in the event that the triangle has more room to play out.
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