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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj


Monday 31 May 2010

1,2 i,ii count

On the Dax post I showed a chart with a possible 1,2 i,ii Elliott wave count.This can also be applied to other indexes like the S&P ,though with the markets closed today the 13th trading day will come in 1 day later.Fib counts do not have to be exact and a valid turn could come on 12 or 14 days.The count implies a iii of 3 down,which would be a sharp fall as 3rd waves are the most dynamic,so a 3rd wave of 2 degrees would be particularly strong.This is not a forecast but is something to consider if the market turns on this timeframe.

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