Thursday, March 31, 2011

S&P 500 ~ Elliott Wave Count ~ 31 March 2011

Q1 2011 is over and the SPX has gained about 70 handles - at this rate we'll see new all time highs early next year.... : )

Tomorrow a new month begins and I'm sure you can remember that the first trading day of a month is usually quite entertaining - usually for the bulls. ; )

Today looked like a consolidation before the next move higher, so I think we'll break the resistance at 1332ish and then rally towards the yearly highs.

Resistance at 1332 and 1344 and support at 1319ish (gap area) and 1305-9