If the Elliott Wave count developed on the daily chart has any validity then there must be a reflection of it on the weekly (and subsequently higher time frames) chart (s).
Shown today is the weekly cash S&P500. Note the CIT at the January high and the price fractal at the wave i’ low on January 23. If wave iii’ is complete (as I believe) we must see a price fractal develop at 666.79. This will occur over the upcoming week if price stays above that level.
The main Elliott story this week is likely to be the pullback and retracement of the recent 91.5 (close to a Fibonacci 89) point rally.
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