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, October 8, 2009
TRANS - 10/8 : Minute [ii]?
Here's an update for the Dow Transports. The waves are much cleaner to count.
Could it be indicating a minute [iii] is next to come and possibly implying something for the INDU and SPX? So far it is very possible the transports put in a top on 9/17 (4055.58).
A clear looking 5 wave impulse down for minute [i] and so far an approximate 61.8% retracement of that impulse to complete/nearly complete minute [ii]. This count of course becomes invalidated if 4055.58 is taken out.
Let's see how she unfolds...
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