Wednesday, September 22, 2010

S&P 500 ~ Elliott Wave Count 22 September 2010

1135 got breached today, the channel depending on how you draw it is still intact though:

Nevertheless, I think that the wave which started at 1040 late August finished at 1149 yesterday, thus after being bullish since September 1st I'm (slightly) bearish now, at least for the next few days.

There is a small chance that there is one last wave up missing but the count looks good and I think 1100ish will be tested once/if 1130 is breached.