Wednesday, January 20, 2010

Elliott Wave Update 20 January 2010

Yesterday we learned that they don't need a Monday for a big rally.

Today we learned that you don't have to be on a ship to get seasick - just watch the stock market!

What took weeks in 2009 (endless bouncing between 1090 and 1120) takes in 2010 only days.

With today's drop I have the following counts:

- The Nasdaq didn't make a new high yesterday, so, my preferred count I posted on Saturday is still valid and still my preferred count.

- The SPX however made a new high yesterday hence I changed to my alternarive count. Should the market fall below 1130 the top should be in (<< I did it again!!! : )).