Elliott Wave Live: S&P Futures: Daily Wrap Up for November 24, 2010

Wednesday, November 24, 2010

S&P Futures: Daily Wrap Up for November 24, 2010

Fist of all, I'd like to wish all my readers who celebrate Thanksgiving a happy and safe holiday.

The market continues to unfold in a choppy and sideways manner that is consistent with corrective structures. As I have previously mentioned, w.4 is unfolding in either a triangle or flat correction. The extent of the current rally from 1174.75 doesn't count complete so I will be looking higher to 1203.75 whereas w(c) = w (a) to complete w.b circle. Should price exceed this level, other targets exist between 1212.75 - 1217.3 depending on what type of triangle or flat develops.

Here's the market's position:

Cyclic Momentum: Weekly is bearish but not OS. Daily is bullish but not OB. 60 min. is

OB.

Pattern: Either a triangle or flat correction for w.4

Time: No analysis made.

Trade Strategy: Remain flat until w.4 wave pattern becomes clearer.

Best of Trading

No comments:

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Wednesday, November 24, 2010

S&P Futures: Daily Wrap Up for November 24, 2010

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