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.
Sunday, October 17, 2010
10/17/10
With futures down about 8 pts tonight and the EUR/USD looking like it may be in a wave 4 pullback (daily MACD sell signal), this alternate count above is one to watch.
Wave Y of (2) may still be in progress and the triangle was only wave b of Y. Wave c of Y down would target 1162 if c=a.
One thing that concerns me with this option is the trendline breaks that would occur. It may very well signal that minute [iv] is in progress.