Thursday, June 3, 2010

S&P 500 ~ Elliott Wave Count 3 June 2010

The SPX made new highs today at 1106 (the ES did not btw) but still failed to rally above the daily MA 200.

To the downside 1070 must hold and to the upside if 1105ish gets breached we should rally to 1120 or even to 1140.

Tomorrow morning at 8:30 am the Non-Farm Employment Change and the Unemployment Rate are released, so let's see how the market reacts on those numbers.

I'll post some charts tomorrow morning.