Wednesday, December 7, 2011

S&P 500 ~ Elliott Wave Count ~ 7 December 2011

And we hit the resistance at 1265ish once again:

So far, so good. There is our sideways consolidation early December and we may have already completed it today (as shown in the chart above). We've been trading in a narrow range since early this month though so I'd prefer a break out before going long (or short).

If we break above 1265ish the next target should be 1292ish.