Preferred view suggests wave ((w)) of Z completed at 11618. Pull back in wave ((x)) is favored complete @ 11290. Wave (w) ended at 11771, wave (x) also appears completed an 11616 with a perfect test of equal legs down from (w) high. Ideally price should now hold above this level for continuation higher toward 12055 - 12235 area to complete a cycle from 3/26 low. If 11616 low breaks, then 11586 - 11548 would be next area to complete wave (x) from where it should still resume the rally as far as pivot at 11290 (3/26) low remains intact. We don't like selling the Index in any of the proposed pull backs.
If you would like to have an access of EWF analysis in real time, click here and feel free to join us. We provide Elliott Wave charts in 4 different time frames, 2 live webinars by our expert analysts every day, 24 hour chat room support, market overview, daily and weekly technical videos and much more.
