Friday, December 25, 2009

Elliott Wave Update 24 December 2009 ~ Merry Christmas!

SPX: The market gapped up again (the fifth day in a row!) and closed at the high of the year at 1126.48.

As it looks now, micro wave [3] started at 1116 on Wednesday. So far, I can count four waves of the first subwave, thus, submicro wave (1) is likely to finish on Monday.

I'm not completely sure if the wave degree in my count is correct. I'm gonna talk about that tomorrow/on Sunday in my weekly update.

Season's Greetings!