Elliott Wave Update ~ 4 June 2012

Although today ended relatively flat, trading was still leaning toward the sell side. The NYSE ended the day at only 35% up volume ratio and a 41% up issues ratio. The NASDAQ fared better at 56% and 50% respectively.

The S&P again closed under its 200 DMA.

Primary count. Missing a small wave (v) of [v] at least.

NDX Daily. 5 waves at least.

Transports confirmed the mid-May move by the Industrials to the downside.