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, August 13, 2009
SPX- 8-13 AM Update
Based on the action this morning, I will have to flip-flop my primary and alternate counts.
I have a (b) wave of Minor B working it's way higher into the 1013 - 1020 zone.
If for some reason the remainder of wave (b) of Minor B falls short of 1012, it may still keep my alternate count alive. The 1012 level would make this segment 78.6% of wave (a), which then makes it possible to count this leg up as a wave (ii). I think this is most unlikely but it still remains an alternative. A break above 1018 and the alternative will be invalidated.
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