We shall see in the coming weeks what the market intends to do. Either break out and up to challenge the all time highs or look for rapid breakdown of the wedge.
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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, February 1, 2013
2/1/13 - EOD Update
The market has continued to track along with the blue count. It has now reached the top of the ending diagonal as well.
We shall see in the coming weeks what the market intends to do. Either break out and up to challenge the all time highs or look for rapid breakdown of the wedge.
We can speculate all we want on the longer time frame but it may not do us any good. However, if I had to choose, these are the two best options IMHO.
We shall see in the coming weeks what the market intends to do. Either break out and up to challenge the all time highs or look for rapid breakdown of the wedge.