Wednesday, November 10, 2010

S&P 500 ~ Elliott Wave Count 10 November 2010

The expected correction continued today and has reached 1204 so far:

Since AH the ES is down huge I think the wave 4 scenario is much more likely now, so the market should stay in a range of ~1190 and ~1230 for the next one to two weeks. Since wave 2 was a zigzag, wave 4 should unfold in a flat or a triangle (rule of alternation).