Tuesday, June 1, 2010

S&P 500 ~ Elliott Wave Count 1 June 2010

Well, we're there where we were 12 hours ago.. at ES 1070. In between we got a huge rally of 25 handles in the morning and then a sell off in the afternoon to close at the low of the day.

The SPX hasn't breached 1066 yet, so the bullish count is in theory still possible.

But the action today doesn't look healthy imo. Every attempt to rally gets sold off within a few hours. Thus, I prefer the bearish count:

btw: today looks similar to 5/24 and 5/26, doesn't it? The day after we got a big gap down in the first and a big gap up in the second case.
What we're gonna get tomorrow?