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.
Monday, November 2, 2009
11/2 - SPX AM UPDATE
This is one potential count I have for now. Minute [i] is in with [ii] beginning today and possibly lasting the the next few days.
Minute [ii] may target anywhere between 38.2 - 61.8% or 1060-1074. I see a top for minute [ii] perhaps by Wednesday on a FOMC rate hike surprise or by Friday on the jobs report. All speculation here of course.
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nice charts. things seem to be panning out a little differently, but your counts were certainly valid.
ReplyDeleteI like the simplicity of your approach, thanks for posting.
thx john. ya. it looks like the 1-2s are possibly playing out here.
ReplyDeletehowever, i still see a possible flat playing out here with 'b' complete at 1029 and maybe 'c' to 1060. and if not,
1020 will be a level to watch. i'm still thinking minute [i] completes there (since we are all over the map on the count).
GL to u!