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.
Tuesday, November 17, 2009
11/17 - SPX : Intermediate (Y) or Minor A?
By this count, we are close to a completion of this leg up.
Three things line up here. Using Fibonacci ratios to predict the size of this final minuette (v) of minute [v], we see that ~1115-1116ish provides for equality between minuette (v) and minuette (i) and minute [v] and minute [i]. This level also caps off the move at the mid-line of the red trend channel as I was anticipating the past few posts.
We'll see what she does tomorrow...
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