Elliott Wave Update ~ 13 August 2013

Tuesday, August 13, 2013

This is a very fragmented market as yet another Hindenburg sighting has occurred.

Internally, the market is showing negative divergence in the up issues ratio. In other words, this market shows signs of serious "cracking".

Bigger picture. Maybe prices will remain elevated for a few more weeks to fulfill a nice symmetry pattern. Who knows. But things inside are deteriorating nonetheless and I suspect that will continue even if prices maintain.