Another lower low under yesterday's low helps the bear cause. It would cause this parallel channel to be suspect and it would challenge the key pivot support.
Apr 11, 2012
Elliott Wave Update ~ 11 April 2012
We may have had 5 waves down in a Fibonacci 5 days. If this is a corrective up wave (ii), then we can expect it to last maybe a Fibonacci 3 days and fail to retake resistance at Wilshire 14,560.
14,560 is the May 2008 and May 2011 peak.
If any rebound can retake this resistance and hold as support - the market is likely heading toward Minute [v] peak.
Another lower low under yesterday's low helps the bear cause. It would cause this parallel channel to be suspect and it would challenge the key pivot support.
Another lower low under yesterday's low helps the bear cause. It would cause this parallel channel to be suspect and it would challenge the key pivot support.
