The most bearish case is a series of small one's and two's playing out since last Thursday's high, but these never seem to pan out as planned. However, the pattern is viable and a dangerous market justifies showing this very bearish picture.
Apr 16, 2012
Elliott Wave Update ~ 16 April 2012
Apple seems to have confirmed its wedge structure. We can say this because the aftermath of that structure is that prices have collapsed to where the structure began. And it very much looks impulsive down. Could be due a wave (ii) bounce.
Overall the Wilshire exhibits an a-b-c up from its recent 14235 low and an a-b-c- down from its Thursday afternoon high of 14582.79. This suggests a corrective combination pattern in play and that the market has one more corrective - wave y - to play out before continuing to the downside.
The most bearish case is a series of small one's and two's playing out since last Thursday's high, but these never seem to pan out as planned. However, the pattern is viable and a dangerous market justifies showing this very bearish picture.
SPX in non-log scale is pressing against its up trendline and trying to hold above 2011 (1370) support.
The most bearish case is a series of small one's and two's playing out since last Thursday's high, but these never seem to pan out as planned. However, the pattern is viable and a dangerous market justifies showing this very bearish picture.
