If today was a wave iv bounce, it has already hit 50% retracement of wave iii, which is a tad steep.
The bulls have three waves up off the bounce so they need to defend 2033.84, today's 6:40 AM (PST) high.
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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, November 16, 2015
11/16/15 - EOD Update
The bulls staged their bounce at Fib and price support. The bears have to defend the 2068.24 level if they want to build a larger impulse wave down.
If today was a wave iv bounce, it has already hit 50% retracement of wave iii, which is a tad steep.
The bulls have three waves up off the bounce so they need to defend 2033.84, today's 6:40 AM (PST) high.
If today was a wave iv bounce, it has already hit 50% retracement of wave iii, which is a tad steep.
The bulls have three waves up off the bounce so they need to defend 2033.84, today's 6:40 AM (PST) high.