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, December 7, 2009
12/7 - Dow and RUT
Here's my take on the Dow.
Price has broken out of the red channel and is now respecting the lower trendline. On 12/4 the Dow hit an intraday high of 10516.70, approximately 200 points over the 50% retracement of the decline since October 2007.
As for the RUT, I made a slight adjustment to the labels. I have subminuette iv completing today with subminuette v on tap to complete the Ending Diagonal for minuette (c).
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