Tuesday, June 22, 2010

S&P 500 ~ Elliott Wave Count 22 June 2010

The SPX was flat for most of the day until it broke out of a triangle in the afternoon. 1105 didn't hold and the market sold off into the close to end the day near the LOD at 1095.

The market continues its correction as expected. This is either an abc correction to the 1090 level or even a bit lower until the next rally starts or this is the beginning of wave 3 down.