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, July 12, 2010
SPX EOD
Here are the two channels I'm still watching. This one here just close under the 25% channel.
Based on this channel, the market closed over the 25% channel.
Here's a look at the SPX Mini contracts. Looking like a pretty clean impulse off the bottom and a reaction to Alcoa's earnings.
And here is an update to the 15 min chart I posted earlier. Because the minis show a clean impulse up, I'm going to show a truncated 5th on the cash and count from there.