Thursday, May 27, 2010

S&P 500 ~ Elliott Wave Count 28 May 2010

After 1095 was finally breached the market went higher and closed up more than 3 % at 1103!

The rally from 1040 unfolds as a double zigzag in the SPX, thus corrective, in the ES though one can count motive waves from the low, so I have to watch how this will unfold in the next days:

Next target for the ES is 1108 and then 1140, the inverse H&S target.

Let's see if we get another 20 handle rally/sell off overnight.. : )