Wednesday, June 9, 2010

SPX's Elliott Wave Count Since 6-8-10's 1042.17 Cycle Low


SPX's (S & P 500, http://bit.ly/i0nsT) Elliott Wave Count Since 6-8-10's 1042.17 Cycle Low, refer to five day intra day candlestick chart at http://finance.yahoo.com/q/ta?s=^GSPC&t=5d&l=off&z=l&q=c&p=v&a=fs,w14&c=. Since 6-8-10's 1042.17 cycle low SPX has done an up down up down pattern, with today's sharp decline probably being a Wave 4 down type of move.

So, SPX will probably experience a sharp Wave 5 up type of move tomorrow/the next few days (target 1105ish), and, watch the 1102.83 upside gap from 6-4-10's open the next few days. I'll probably be looking to trade SPX (S & P 500, http://bit.ly/i0nsT) long via SPY the next few days. The five day WMT/XOM Lead Indicators are/closed extremely/very bullish, see http://finance.yahoo.com/q/ta?s=^GSPC&t=5d&l=off&z=l&q=c&p=v&a=fs,p12,fs,w14&c=xom,wmt,^djusfn.

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