View: slopechart_$SPX.jpg



Green solid is hysterical fib @4518. Currently at 4513. Close enough for government work. 

Although I don't use Elliot a lot I like some of Prechter's ideas. The one I like the most is that the news does not make the market, the market makes the news. Even IF that premise is incorrect, it forces me to look at charts and ignore all the bullshit in the media, so I work by it. 

I figured that fib had some gravity but I didn't expect to hit it a day after my last post. Thought it would be a week of dickin' around.  

I have no prediction on whether it is a speed bump or a trampoline, but I would expect at least a little bounce tomorrow.

Image added via SlopeCharts


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