Dow Jones ~ Elliott Wave Count ~ 30 September 2013

So far, no important resistances have been breached and thus wave 2 is still underway.

(link to previous count)

Wave 2 has already retraced about 62 % of wave 1 and thus should end very soon. Once it's completed, wave 3 to 16000+ should follow.

Should we go much lower from here though, something else is likely underway.

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Author: Patrick Eugster

S&P 500 ~ Intraday ~ 27 September 2013

The SPX closed the open gap at 1688 about half an hour ago and has been rallying since then.

If we can break 1694, we could see a rally to 1706ish:

Should the SPX break below today's low though, we should get a sell-off to the next support level at 1668-72 as mentioned in the Globex update this morning.

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Author: Patrick Eugster

ES ~ Globex ~ 27 September 2013

The ES is now right at the edge of the trading range we've been trading in during the last few days.

If it convincingly breaks below it, we could see a sell-off to 1660ish.

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Author: Patrick Eugster

Dow Jones ~ Elliott Wave Count ~ 26 September 2013

(link to previous count)

Not much has changed since yesterday. We may have completed wave 2 at 15250. However, I need to see a break above 15450 before turning bullish.

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Author: Patrick Eugster

ES ~ Globex ~ 26 September 2013

We're currently stuck between 1685 and 1700:

A break above 1700 should lead to a rally to new all-time highs. A convincing break below 1685 should lead to a sell-off to 1660.

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Author: Patrick Eugster