| SWEB May 8. 2009 |
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| Written by Matt Blackman | |
| Friday, 08 May 2009 | |
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Special Elliott Wave S&P500 Bulletin For May 8, 2009 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 on holiday. The much-expected correction finally came May 7 but the big question is whether it is the beginning of a bigger correction or just a breather in the rally… Here are two takes on where we are right now.
Thirteen-minute chart of the S&P500 showing the Double Zigzag chart pattern which is one take on the current count. Chart by Elliottian.com Data by eSignal.com.
If the count is the latter, a Zigzag, it is getting near its end as the Wave C is usually about the same length as Wave A and this correction will continue. But whatever the count is, it is corrective and getting long in the tooth... Suggested Elliott Wave Reading Forecast Change for Elliott Wave Followers by Matt Blackman 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 ( Wednesday, 22 July 2009 ) |
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