Monday, August 2, 2010

S&P 500 ~ Elliott Wave Count 2 August 2010

Mutual Fund Monday is back...! : )

The SPX rallied 2.2 % today!

I think the market will consolidate in this area (~1120-30) for one or two days and then rally higher. As soon as the 1130 area is breached I think we will see new highs (>1220).

Today's high either completed wave (i) or wave iii of (i). A break of 1130 should follow later this week.