Elliott Market Waves

SPX daily update

Tuesday, June 9, 2009

When we have corrective patterns followed with (again) corrective patterns is hard to have a decent count. However i like very much this my last chart :).
Between +-950 and +-922 points SPX in cash made clearly 5 waves so i count this like c of iv of "a" as irregular flat. The spike at the 958 points i prefer to count as the end of wave "a" of X. The typical zig zag since friday i will count as "b" of X. Now the bulls are again in control so i expected new highs very soon however the following patterns are important to confirm my count.

SPX intraday update (Part 2)

Monday, June 8, 2009

Typicall zig zag on SPX. Maybe already finished this downside or maybe is missing one last wave. Some times the easier way is the better. So keep in mind the both trend lines to catch the next movement.

SPX intraday update (Part 1)

Decide not do update early cause the count at this moment is choppy and hard. Now seems more an abc but still some doudts how feets in the big picture. Maybe some flat or triangle. The flat in cfd's for now is not valid cause this last lave must be in 5 waves and i see only abc. Maybe in cash we can see these 5 waves. In the case of the triangle is still early to be sure. Despite these doubts I think SPX likely will test the 920-925 points and then maybe will do new highs.

Good Weekend

Saturday, June 6, 2009

It was not a very good week to trade (and count :() so i decided to start the weekend early. To all a great weekend and try to rest!!!!

P.S. As i said in this evening in my comments with moguita i like the flat wave in spx, ndx and a regular abc on DAX but now i prefer enter long at 91x's-92x's than short at this values. Latter i will try to show some charts.

SPX intraday update (Part 1)

Friday, June 5, 2009

For now the bulls control the trend so most likely the existence of leading diagonal (the pattern is not perfect but is what we get).However i believe one test on support area (935-940).

SPX daily update

Sometimes this corrective waves are hard to count but the key area (94x's) was conquered by the bulls and now they have everthing to do new highs. Since the yesterday lows i don't see anything impulsive in this wave but i consider this wave like a leading diagonal.

P.S. Because of this movement covered my shorts at 940.