Thursday, May 27, 2010

SP Elliott 3rd Wave Alert

click to enlarge
This chart pretty much is self explanatory: No longer oversold, there is a .382 retrace of the last leg down, a clear abc corrective pattern on the bounce, and the count implies a violent -3- of (3) of 3 down to develop any minute.
It would have to take out the 1150 level to negate this current count.



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