Sunday, April 25, 2010

S&P 500 ~ Elliott Wave Count Week 16 2010

Just a short update of what I expect for the coming week:

(Thanks for this chart ; ))

The expanding ED count is still my preferred one and I expect the top of this fifth wave early next week around 1220-1225.

Although it's hard to imagine the market should then decline for the rest of the week, down to around 1170.

This scenario gets support of the fractal I posted a week ago in this post.