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These are two updates of the charts I posted yesterday in "The LinkUs Hub" among other charts and links. They are my ongoing Elliott wave count (long and short term) since last month. Taken by themselves and nothing else, the target for a complete wave (top) is within few hours or days at most, if not already at hand.
Notice that I only use Elliott wave when it can give me a reliable signal or at least a likely good risk/reward setup for a swing trade "depends on your time-frame". The rest of times, I believe Elliott waves analysis should take a step-back and never traded upon it, if not ignored altogether especially during corrective waves.
If you would like to learn Elliott wave analysis, click here for the right place to start and here you will find a quick introduction.
I hope this added value to your thinking but never make it.
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3449922&cmd=show&disp=p
this makes sense to me, but the $VIX drop has be concerned
Posted by: Jman | January 13, 2010 at 10:16 PM