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, December 31, 2009
12/31 - TRANNIE TOP?
Is it possible this count is legitimate? The final wave (c) of Z is almost a near perfect Fib 1.618 x (a) of Z. The count looks pretty clean.
However, I think price needs to break 4059.91 to confirm that the move down is not just another wave 4. If it does break this level, I think there is a more compelling argument that a top is in.
The alternate count is labeled so we'll just have to see.
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