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, December 22, 2009
12/22 - ES Mini
This has been the count I have been following for the Mini. So far price continues to fill the wedge/Ending diagonal.
I like how Minor A of (Y) channels perfectly. As for Minor C of (Y), Intermediate 4 could be moved over to where I have it labeled as b (red) of 5, but I will leave it there for now unless a ghange is required.
By this count, we are very close. Either it is completing the final wave c of 5 of Minor C to complete it all or it is just wave a of 5 of Minor C.
As I said in the previous posts watch those converging trendlines. A thrust out of the lines should correspond with the tightening Bollinger Bands on the daily chart for SPX.
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