The red count is the primary at the moment. Price is below the 20 DMA, which I believe is below the 50 DMA.
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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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Monday, January 12, 2015
1/12/15 - EOD Update
I relabeled the blue count to a corrective abc bounce. I just can't find an impulsive count for what I have labeled wave a and so far what would be wave b is a very deep pullback, which I was previously tracking as a wave 4.
The red count is the primary at the moment. Price is below the 20 DMA, which I believe is below the 50 DMA.
The red count is the primary at the moment. Price is below the 20 DMA, which I believe is below the 50 DMA.