Monday, November 1, 2010

S&P 500 ~ Elliott Wave Count 1 November 2010

1183 - 1186 - 1186 - 1182 - 1184 - 1183 - 1184 (daily closes)


In my opinion, wave 4 is still underway. The two different wave 4 counts I posted in my last update are still valid, I see now though another slightly different possibility in case the SPX exceeds 1200 already tomorrow:

As you can see medium/long term these three counts are similar, only short term there are some differences.

Elections tomorrow and FED on Wednesday, let's see which way the market is going after these events took place.

P.S. I'm going to post my outlook for November later this week. I think there is no point in posting it just before the elections and QE2 trying to predict the outcome of these events.