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Wednesday, June 17, 2009

After months of complex waves it's so nice to get a classic Elliott Wave pattern. This is so perfect it could be used as a text book example. I'm expecting something close to the pattern indicated in this chart.

845 should follow 923 SPX. I expect the bottom of the M30 Kumo to provide resistance at 923. Pivot Point resistance R1 should provide the bounce as it is very close to 38.2% retrace but a 61.8% retract would bring the SPX to 936 so we will have watch the waves and be ready to take our short positions.

Hello to my Norsk readers, drop me a line an tell me what's going on in in my favorite country. Har det bra.

Analysis presented on this blog has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.

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