The 200 day SMA is at 1284 at the moment. We'll see.
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| Bear |
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| Bull |
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.
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Friday, June 1, 2012
6/1/12 - Pre Market Update
That ugly NFP number certainly points to the bear count I have been posting. Note the bull option ED should the market find support at 1290.
The 200 day SMA is at 1284 at the moment. We'll see.
5=1 at 1262. Lets see what happens at 1290 first.
The pink option on this count will be toast. Now the question is will wave 5 equal the same as the bear option above? One thing for this count and I guess could also apply for the bear count is a potential ED down to the 1290-1260 zone.
The 200 day SMA is at 1284 at the moment. We'll see.