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.
Friday, August 28, 2009
SPX 8-28 AM UPDATE
OneChiOnly came up with some good alternate count.
I added two labels for an alternate count in blue. Where I have minuette (iii) I have as an alternate as minuette (i). Minuette (iv) as minuette (ii). I have also labeled the alternate count in purple.
The reason is the correction from 1039.47 so far looks like a zigzag, which is indicative of a wave 2.
The other alternate count is that P3 has begun. A break of 1016 will strongly indicate that P3 is in play.
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