Updated count

Posted on October 21, 2011 by alphahorn

Here’s what  the bullish/bearish count would look like with wave (B) of [B] as the expanding diagonal.  This could work but the Nasdaq would have to under perform the other indexes as intermediate wave (C) finishes the retracement for the other indexes.  The Nasdaq would simply put in wave 5 of (C).  However, the bullish count is looking more and more likely.

About alphahorn

I received an MBA from Columbia University’s Graduate School of Business in New York and am a Wall Street veteran. I’ve worked for a number of investment banks including Smith Barney and First Boston/C S First Boston in New York. Over the years, I have developed my own Proprietary Swing System and I combine that System with my own Elliott Wave Analysis to trade.
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