Tuesday, May 24, 2011

SPX Daily - Tuesday, May 24

@ 11 PM

If we break the Apr 18th , 1295 on the SPX, we may have a case of an irregular top, as mentioned by R.N. Elliott in Nature's Law.

NYSE Composite index is a lot closer to breaching it's Apr 18th low of 8,205. It reached 8,208 in today's session.

Elliott's Irregular Top has been trivialized by Prechter as an erroneous concept in his EWP book.

@ 4 PM 
Perhaps one more low for this pattern to complete.

@ 12 Noon

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