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Strategies & Market Trends : CFZ E-Wiggle Workspace
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To: Perspective who wrote (9453)11/27/2008 3:55:01 PM
From: skinowski  Read Replies (1) of 41419
 
Let's have a couple of low key cheers for old Ralph Elliott. The rally since Nov 21 completed an impulse, consolidated, and then traced out another wiggle impulse to new recovery highs. The new advance is likely to be either wave "c" - or - 1 of 3(or C) up.

Short term, a break below SPX 835 (Nov 25) could be a good sign that... this recovery may be over - or that, in any case, it's starting out by tracing out "threes", which suggests bearish longer term implications.
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