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, March 6, 2010
3/6/10 - SPX - Additional Counts
This is count I had been updating throughout the week. I think this still may work as a good possibility.
Once again, the minuette (b) wave is a little problematic as far as guidelines (it is approx 1.8 x (a) vs a typical ratio of 1.38)go but it is not a rule breaker so it still cannot be ruled out.
Minuette (c) is approximately 2.618 (a), which is an acceptable Fib relationship to (a). The 90% retracement from the 1150 top through 1044 bottom is also in play there as well.
Just putting this one out there again. It explains the 5 wave impulse off 1044.50, assuming that is a correct wave to count the structure up.
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