5.25.2012

SPX
Traditional view (daily)
Looks bullish with crossover signals on Price/MA9, RSI, Stochastics and bottom-forming view on MACD


Elliott Views
Bearish case: Probably that the (a)(b)(c) waves of the correction move will come truth with wave (c) ended at somewhere between 1328.xx - 1339.xx. The downward move must resume to break down 1291.98 after wave (c).
Bullish case: If 1339.11 is broken out, then the ABC had ended at 1291.98 (dated 5/18) and I may count (1?)(2?)(3?)... as components inside the wave 3 up that began from 12.30 (5/23).

No comments: