Sunday, April 18, 2010

S&P 500 ~ Elliott Wave Count Week 15 2010

So far, the trendline and the hourly MA 76 has hold. This MA has provided support during the entire rally from the Feb lows (red circles).

After the sell off on Friday, we got a few possibe wave counts:

- Either wave 5 topped at 1214 and we are in a bigger correction down to the low 1100's
- or only wave 3 topped an the Friday low was wave 4 or only wave [a] of 4.

I'm gonna show a very interesting fractal later ; )