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, February 10, 2011
Trannies Bullish
A few days ago I posted this chart in the chat room. I thought I posted this on the blog to but I may nothave. This count showed the corrective nature of the drop and I speculated that it was just lagging the Dow. I also pointed out that the daily MACD histograms where pointing at a potential bull cross. Today that has proven to be the correct call.