Elliott Wave Live: Elliott Wave Live: Pre Market for August 9, 2010

Monday, August 9, 2010

Elliott Wave Live: Pre Market for August 9, 2010

The ON session is up slightly. The FOMC conducts its policy meetings with an announcement on rates due on Tuesday at 2:15 p.m. Typically the markets are quite before the announcement.

From the weekly review post, the wave count suggests that the upward correction has not run it's course. Here are additional EW Fib levels and color codes created from the intraday 60 minute chart.

Red- wave c =.618 wave a @ 1129.5
Green- waves (i) - (iii) = .618 @ 1133.5 (Golden Section) of the entire wave 2.
Blue- wave c = wave a @ 1145.25
Purple - wave (v) = .618 wave [(i)-(iii)]@ 1153.5

Best of Trading

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Elliott Wave Live

Monday, August 9, 2010

Elliott Wave Live: Pre Market for August 9, 2010

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