Monday, June 14, 2010

S&P 500 ~ Elliott Wave Count 14 June 2010

At least fractals work if you can't use Elliott Waves : )

And updated:

As I posted before the open I thought that a diagonal was forming. Whether an Ending Diagonal or a Leading Diagonal we don't know yet. If it's an LD we should retrace to ES 1070 +/- 10 and then continue to rally. But if it's an ED we've seen the high for the next few months today and should decline from here. Confirmation that a third wave is underway below 1040ish.

So, nothing changed, 1040 and 1105 are still the levels to break.