Wednesday, June 30, 2010

S&P 500 ~ Elliott Wave Count 30 June 2010

Another tiny second wave? Seems so!

As I posted during the day I expected a rally to the 1060's today. When we completed a first a b c around midday I thought that was only wave w of a double zigzag second wave. We then declined in another a b c move to 1040 into the afternoon so I hoped for a late day rally.

But that did not happen. In the last trading hour the SPX broke 1040 and sold off to 1028! So I think wave (ii) already ended at 1048 and the big one is upon us. If you see other short term counts feel free to post them!

I'm really excited about tomorrow : )

Edit: Fractal Update: We should have seen a rally today from 1033 to 1068 according to the fractal. Either the rally was shorter than in 1987 OR the fractal is one day off and today was the low (1028 isn't that far away from 1033) and tomorrow will be the big rally. We will see.