Sunday, November 14, 2010

S&P 500 ~ Elliott Wave Count 14 November 2010

Short term, my count hasn't changed since my last update:

I think the low on Friday was either wave [a] of 4 or already all of wave 4. I expect the 1196 area to hold, if it doesn't the next support area is in the low 1180's.

There is a pretty nice channel in the ES:

A breach of this channel should confirm that either wave [b] or already wave 5 is underway.

Have a nice week! ; )