Wednesday, November 17, 2010

S&P 500 ~ Elliott Wave Count 17 November 2010

Quite a boring trading day today...

The SPX moved along the lower channel line all day long:

This is my short term wave count if we rally tomorrow and get back into the channel but both possibilities I mentioned today can still happen: either a rally back into the channel and a short squeeze or a failure and a sell off down to 1163/64.

Medium term still no change in my wave count: