This market is just stair-stepping itself lower now, which is what it did yesterday after a high was put in. The 60 minute and 15 minute charts are point up now, which is what's causing the backtest again, of the downward sloping trendline.
At some point later today, the 60 and 15 minute charts will re-align again, and point back down. When that happens, a 5 charts will once again be pointing down. Another thrust down is likely to happen then.
its loaded with free educational content and a “road map” going forward a few months. Its definitely a great resource to consult before adding any positions.
SPX 18-May-10 End of Day Data
Open High Low Close
1,138.78 1,148.66 1,117.20 1,120.80
SPX 18-May-10 Pivot Points, Fib Pivots
R3 1,172.03 Fib R3 1,160.03
R2 1,160.35 Fib R2 1,148.39
R1 1,140.57 Fib R1 1,140.84
Pivot 1,128.89 Pivot 1,128.89
S1 1,109.11 Fib S1 1,116.93
S2 1,097.43 Fib S2 1,109.38
S3 1,077.65 Fib S3 1,097.74
This market is just stair-stepping itself lower now, which is what it did yesterday after a high was put in. The 60 minute and 15 minute charts are point up now, which is what's causing the backtest again, of the downward sloping trendline.
At some point later today, the 60 and 15 minute charts will re-align again, and point back down. When that happens, a 5 charts will once again be pointing down. Another thrust down is likely to happen then.
K. You will be fine.
guys check out this brand new site:
elliott-wave-education.com
its loaded with free educational content and a “road map” going forward a few months. Its definitely a great resource to consult before adding any positions.
Looks like the pop a hitting now. iam making a few small adds
thanks a million.
112.41
Yes, but I think it is yesterday's close because we closed at containment.
trying to duplicate on my chart…cant see his numbers…
I believe yesterday's close. But don't kill me if I am wrong – I am trying to figure it out just like you guys!