Elliott Wave Leaderboard

Monday, February 13, 2012

S&P 500 in a Tight Daily Squeeze

Where's My Wedge At?

Although I am no golf expert, I can see when there is a rising wedge in the stock market and that problematically means a price decline is approaching. Just take a look at the story-telling trend lines I have drawn, and see for yourself. 

The Dow Jones has slightly surpassed the previous high it made in May of 2011, so I am going to show you my count in regards to the S&P 500 Index. I like both indexes, but I am still working out a good count for the Dow, however, the main focus is still to the downside. The $SPX is a better gauge of the overall marketplace anyway, so there wouldn't theoretically be as many wild swinging days throwing off potential well-working wave counts as other specified market indexes might.

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1 comment:

  1. including daily workouts...and is beef jerkey something good to eat regularly for its use of protein?