Friday, December 18, 2009

Elliott Wave Update 18 December 2009 ~ getting fractal support

SPX: Another day that won't go down in stock market history... Still between 1085 and 1115, still in the channel for the sixth week now and still astonishing everybody how boring it can be to watch the stock market these days.

There is one point however, that supports my bullish count that we are finishing or have already finished wave ii/[2] and are now in the beginning of wave iii/[3]:

If you compare the market action between December 7-9 and 16-18 you can clearly see the similarity of these two fractals. So, if you look on December 10 you'll know what I expect for Monday. I'm gonna post a chart on that on Sunday evening ; )

Hope you made some nice trades this week!

Have a nice weekend ; )