| SWEB April 30, 2009 |
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| Written by Matt Blackman | |
| Thursday, 30 April 2009 | |
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Special Elliott Wave S&P500 Bulletin For April 30, 2009 Anant Acharya Access to this information implies that you have read and will abide to the terms in the disclaimer below. If you have questions or feedback, please email Matt Blackman at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it . Anant is having technical difficulties today so is unable to provide his chart and overview. Here is what we are seeing with the S&P500 Index as the corrective barrage continues. As the target rectangles show, prices continue to point higher but given how oversold the market is, a correction could come at any time. This has been a very tough market to trade to say the least!
Figure 1 – Double Zigzag (DZ) originating March 6 with the series of corrective wave patterns continues to inch higher despite the fact that we are in a bear market rally. Volumes have also been falling which is generally bearish. Chart provided courtesy of Refined Elliott Trader (RET) software produced by Elliottician.com Data by eSignal.com
Suggested Elliott Wave Reading Forecast Change for Elliott Wave Followers by Matt Blackman (SFO article explores recent EW research findings) http://sfomag.com/article.aspx?ID=1218 Short Overview of Elliott Wave Principle http://www.indiacharts.com/EW.htm Elite Trader’s Secrets by Richard Swannell (Free eBook) ftp://ftp.elliottician.com/pub/ebooks/ERP1Results2003.pdf Elliott Wave Principle by A.J. Frost and Robert Prechter http://www.elliottwave.com/books/ewp/default.aspx?code=oco R.N. Elliott's Masterworks edited by Robert Prechter http://www.elliottwave.com/books/rn_masterworks/default.aspx?code=oco
Disclaimer TradeSystemGuru.com obtains information from sources deemed to be reliable; however, TradeSystemGuru.com does not guarantee the accuracy of any of the information provided. TradeSystemGuru.com makes no warranties, expressed or implied, as to the fitness of the information for any purpose, or to results obtained by individuals using the information. We may or may not be invested in any investments cited above. In no event shall TradeSystemGuru.com be held liable for direct, indirect, or incidental damages resulting from the use of the information found on or distributed through this website. TradeSystemGuru.com shall be indemnified and held harmless from any actions, claims, proceedings, or liabilities with respect to the information and its use. TradeSystemGuru.com does not make specific trading recommendations or provide individualized market advice. All information provided is to be construed as opinions and is intended to be used as an educational information service only. We encourage investors to contact a registered securities representative prior to making any investment or related decisions. Any and all forecasts and opinions expressed herein are for discussion purposes only and are not intended to constitute investment or trading advice. |
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| Last Updated ( Friday, 01 May 2009 ) |
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