Elliott Wave Update ~ 19 June 2012

Our 61.8% Fib target of 1364 has been met for Minor 2. Primary count could be missing a wave (iv) and (v) of [c] of Minor 2.

I speculated a while back that since Minor 1 wave down was a bit of a bullish falling wedge, that Minor 2 would be swift and sharp. That has indeed been the case.

Today was about an 85% up day. Pretty strong yet the VIX ended up on the day.

Wilshire has a distinct [a]-[b]-[c] look about it on Minor 2.  Very equal so far between [a] and [c] waves.