Elliott Wave Live: The Market Pulse

Tuesday, May 10, 2011

The Market Pulse

Today's post will be brief and a supplement to the weekly edition of Heard On The Street.

The Emini S&P appear to be following the script laid out calling for an ending diagonal. Yesterday, prices rallied and RSI has so far failed to break the 40 line , a point where further bullishness would be questioned. The fact that the indicator bounced of the 50 line instead of even testing the lower 40 line bolsters my bullish view.

At the intraday level, the subdivisions of w.5 are labeling and I am expecting another up, down up sequence to complete the pattern.

I hope you found this information helpful and ...

Best of Trading

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Tuesday, May 10, 2011

The Market Pulse

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