Friday, May 14, 2010

Dow Jones ~ Elliott Wave Count 14 May 2010

Today's move down appears to be a motive wave, so it's either wave [a] of a correction (Minor 2) or a first wave of an impulse down.

Since all Mondays are up days... : ) we'll likely get some sort of retracement in a second or b wave. A possible target is the 10700-50 area (SPX 1150ish).

Have a nice weekend!