The Bounce House – October 13, 2011

Spent the entire day back testing Trend Line X (red, dashed.) Should start back down now.

More later.

Spudthorpe on October 13, 2011 at 6:38 PM said:

Thanks for posting today's update! As always, I appreciate and enjoy your work.

I have one question about your Elliott wave count. It looks like your wave iv peak is higher than your wave ii, which I would expect to happen only in an expanding diagonal. Are you expecting that pattern to occur? Otherwise I don't see how the count can work (although, EW count aside, I roughly share your expectations for price action over the next few months).
ckorey on October 13, 2011 at 1:18 PM said:

Still looking for my drop to 1140ish but thinking we may, and I mean may, test that 1220 level again first.