Friday, October 11, 2013

S&P 500 ~ Elliott Wave Count ~ 11 October 2013

The main problem with the short-term count I showed for the Dow Jones yesterday is that it doesn't work for the SPX. The sell-off from 1730 to 1650 subdivides into three waves (and not five).

In an earlier post I mentioned the possibility of counting wave [3]/[C] slightly differently. Below you can now see this alternative:

(link to previous count)

(link to previous count)

I actually quite like it this way. I'll show you the other likely scenario a bit later today (for the Dow Jones) so that you have a nice overview of the two possibilities.

Author: Patrick Eugster