Wednesday, April 13, 2011

S&P 500 ~ Elliott Wave Count ~ 13 April 2011

The SPX declined a bit further today and may have completed wave 2 at 1309. It's too early to tell though whether it's indeed wave 2 or only wave [a] of 2 so we have to see what happens the next few days.

The big support area remains at 1300ish and resistance at 1340ish. Once above it 1400+ should come next.