Elliott Market Waves: Nov 12, 2009

Thursday, November 12, 2009

So far so good.

SPX intraday update (Part 3)

Since last high SPX maybe is doing a triangle.

SPX intraday update (Part 2)

Although do not expect, new highs were made :(. Now the counts at short time the counts are messy but at big picture nothing change. Some things to remember:

1) Since July SPX is in the same pattern and doing zig zags. This pattern may have alot of alternative counts (I showed only 2 of them).

2) Bull market is dead and P2 is still alive. This is only one rally of the bear market and.

So, at long term my primay count showed SPX is in the last leg to resume this wave P2 but the alternative count is also very valid.

At short term this new high shuffle the counts and I changed for an possible impulsive wave. Truly, for now, I'm not sure with this count but the future patterns will take all my doubts.