Thứ Ba, 30 tháng 4, 2013


Tuesday, April 30, 2013

Elliott Wave Update ~ 30 April 2013

In the below 5 minute Wilshire chart, the top middle of the up channel would have made a nice wave [v] spot, but that high was not above the previous Minor 4. So the market may have entered an ending diagonal triangle in an attempt to get above the previous high and today's close did just that.
The below 15 minute S&P chart shows the same squiggle count.  To confirm this count, we can expect a quick 40-50 point SPX drop to below 1460ish for starters due to exhaustive nature of the ending diagonal triangle.
So that's the call here. Perhaps a quick pop - perhaps hitting 1600 SPX and therefore triggering a secret algo "sell" spot then price collapse based on the potential ED pattern of at least 40-50 SPX points based on the start of the pattern at 1563.

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