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European Debt: An Elliott Wave Perspective

Market Update 6/30/2009 $$

June 30, 2009 at 8:38 pm | Trade Artist | Comments 0
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Wave C ended today as expected and it appears an impulse move to the downside has begun. If so I would expect the 3rd wave to carry us back to at least $87.50. If things don’t appear to be going as planned I’ll post an updated wave count but for now I think this is the highest probability.

Update – As of 7/1/2009 at 7:05am the market is gapping up further than I would expect if this was indeed wave 2 of a 5-wave decline. If we trade above $93.06 that will eliminate this count. For now let’s see what happens.

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