November 24, 2011 5:49:48 PM by
Peter
Elliott Wave S&P500 1 Hour Chart CFD Report
Index Trading SP500 Elliott Wave Strategy
Weakness on S&P500 is fully in progress, after a break out of the trading channel, which if we get also a bearish close at the end of the day, should be a confrimation for a black wave 3 sell-off. So after-that broken trend line will then tend to react as a resistance in wave iv). But at the moment wave iii) still underway, with next support seen around 1160.
Thursday, 24 November 2011 at 1:00:00AM AEST
