Click here for a live and updated chart!!!8:10, The SPX made another high this morning, confirming the trend is indeed up. I have now put question marks on the red 2, besides the one question mark I have on the 5th. IMHO, this rally can no longer be counted as an orthodoxed Impulsive wave, there are just too many over-lapping corrective waves to be a real impulse wave. One reason might be because of the manipulation of the Treasury market from the FED has carried over to the equities markets making the shorter-term Elliott wave counting useless, or unreliable. Even so, the daily indications are still showing a topping process.
Click here for a live, and updated chart!!!The SPX has been alternating between short term bullish and bearish Fib fans. Now it is currently in a bullish fan.
Click here for a live, and updated chart!!!7:44, The daily chart of the SPX has a batch of resistance at the 1210 level, and is currectly riding on support of the gray Fib fan.
Nasdaq has already taken out April highs.. So does it mean EWI's Primary wave 2 is not yet over?
ReplyDelete