Thursday, April 18, 2013

S&P 500 ~ Elliott Wave Count ~ 18 April 2013

Actually I was hoping for a bit more downside after the SPX broke out of the triangle but I think 7 handles is still better than nothing.

The support at 1538-41 held once again today, thus I'm still not medium-term bearish. Nevertheless I'd like to show you a potential bearish count: