Wednesday, November 3, 2010

S&P 500 ~ Elliott Wave Count 3 November 2010

Elections are over. FED day is over.

So, will the stock market finally pick a direction again?

I think the alternative short term count I posted on Monday is underway. As long as the wave [e] wave low at 1178 holds, this count remains valid:

Wave 5 should be underway now. Possible objectives for this wave are 1220 (April high), 1250 (inverse H&S target) or even much higher around 1300.