Elliott Market Waves

Tuesday, February 26, 2013

Wave 2 extend more than expected in price and time. However after that a good seell off appeared sugesting wave 3 is underway.

My primary count is wave 3 is underway but for now the bears have made (only) 3 waves to the downside. Because of that, at green I add the alternative bull count.

Don't expect SPX above the 1501 in the next days, so let's see what "they" do tomorrow.

Friday, February 22, 2013

Possible double zig zag underway in this wave 2.

spx update

Short term count suggest wave 2 is underway. I have 2 possible counts for wave 1 and my target for this (small) rebound for wave 2 is 1510-1515. Good trades!

Thursday, February 21, 2013

At this point this is my primary count for the short term count.

The bears need an impulsive wave to the downside to confirm my medium term count! Let's see what "they" will do.

After more than 100 points, since my last update, is time to be short and wait to see what the SPX will do with my medium term count. It will be important understand the pattern of this downside to understand if my medium term count is correct.
For now, the bears need an impulsive wave to the downside.

spx update

Thursday, November 29, 2012

I confess these complex patterns make me crasy and for now I'm not sure if my counts are trustfull.

Despite this, I don't see the "TOP" in the last higher high at 147x's cause the pattern to the downside is corretive. To follow this I changed my medium term count! Another possibilities are still available but to me make more sence this count. At short term, since the last higher high, SPX made an triple zigzag.

spx update

Friday, November 16, 2012

At this points, as I posted in my last chart, does not make sence count this waves as wave 4. However the waves aren't clear and can't find any impulsive wave to the downside. So my primary count suggests SPX is labelling another X wave to the downside.