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.
Saturday, December 19, 2009
12/18 - SPX
Just wanted to add a little more to this chart.
For early next week, I am looking for a little more to the upside to complete either wave (ii) or (i). I have highlighted a target range for this move.
Either price fills the gap above or what appears to be an inverted head and shoulders takes price higher. Both targets fills a typical Fibonacci retracement level.
Correction: My post on the weekly MACD shows a cross. However, at the end of the day, the chart shows that it has not crossed but it is very close.
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