Elliott Wave Update ~ 31 July 2013
You could tell by the overlapping wave structure and the weak internals that the market was trading heavy and "tired". Today may have been an ending diagonal triangle:
S&P 500 Analysis after closing bell
- Daily indicators are turning weak in S&P 500 chart. Stochastic has given a sell signal. Bears need price to close below 20 Day SMA for a bigger fall to happen.
- Weakness on price trading below 1676 and 1669 levels.
S&P 500 ~ Elliott Wave Count ~ 31 July 2013
|(link to previous count)|