Thursday, October 14, 2010

S&P 500 ~ Elliott Wave Count 14 October 2010

We got a small correction today retesting the previous resistance area. At around 3 pm the end of day rally started which continued afterhours when Google reported. The ES is currently at 1175 back where it closed yesterday after being down more than 10 handles by 3 pm!

Well, still no break above the 1180 area but I guess tomorrow it could happen?

Once 1180 is cleared I think wave 3 will challenge the 1220 high and possibly reach the inverse H&S target at 1250.