Elliott Wave - CRB Index (Weekly) - 2 Dec 10

     Continuing with the CRB Index ... The weekly chart shows a Leading Diagonal pattern from the February 2009 low up to the January 2008 high. This is either wave '1' of an impulse pattern or wave 'A' of a zigzag.
      The index then corrected in an 'A-B-C' to the May 2010 low. This decline held at the 50% fibonacci retracement level and is either wave '2' of a larger impulse or wave 'B' of a larger zigzag.
     The rally from May 2010 is not yet complete with the next target level at 322-324. I will examine this rally using the daily chart in my next posting.