Tuesday, December 8, 2009

Elliott Wave Update 8 December 2009 ~ no strength so far

Today the market dropped below Friday's low invalidating my very short term count from yesterday. But as long as the SPX stays above 1084 I will stick to my count, which says that pink wave (b) ended at 1084 last week wave i of (c) topped at 1119 on Friday.

So, tomorrow we should finally get the promised rally to a new high above 1120. Should the market drop below 1084 however I'll have to change my count and I might replace the pink wave (b) low or even mark 1119 as THE top.

Have to wait for the waves first ; )

Good luck!