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, November 8, 2010
11/8/10 - EOD Update
Today's range should come as no surprise given that is what one should expect from a wave four.
I have it labeled as complete but the alternates are there in the event that this structure becomes more complex or possibly turns into another triangle.
A few things I'm focused on for the tomorrow:
1. A fairly bullish looking flag is forming.
2. The MACD Histograms are trending higher.
3. The 30 Min Bollinger Bands are very tight signifying a sharp move is in store. I'm favoring the move up but ya never no.