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, November 11, 2010
11/12/10 - Pre Market
Looks like the market may not like CSCO's results and guidance. Futures sports a nice little impulse up off of (iv) whereas the cash markets remains questionable.
Based on my EOD post yesterday, option 2 appears to be in the lead.
Overnight the /ES traded in a down channel. If a double zigzag is in the works, wave y may be nearing completion and the first target may be 1203.
The dollar is coming upon it's 34 EMA at 78.11 and some resistance at 78.60.