Friday 13 August 2010

Elliott Wave - S&P500 Cash Index - 12 Aug 10

Per the discussion yesterday a Diagonal pattern is no longer possible leaving the Zigzag as the only choice. Using Neely's labeling and degree conventions for structure, this complete 'Level 1' Zigzag is likely to be the 'Center 3' (:C3) of a larger pattern, either a Flat or Contracting Triangle.

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