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July 26th, 2010: Update 4 – Diamond & 3 White Soldiers

Posted by pugsma on July 26, 2010

9:45 pm EST:  Here is a good look at the SP-500 daily candle chart.  There is just so much good stuff (if you are a bull) going on here that I will just focus on a couple things tonight.  Of course everyone knows that I called July 1st P2 bottom on the afternoon of July 2nd using the massive positive divergence between the McClellan Oscillator and the SP-500 price low on July 1st.  But more recently I indentified a potential Diamond Bottom Reversal Pattern on Wednesday evening July 21st, before the break-out of the past 3 trading days.  The break-out also formed a bullish candle pattern known as the Bullish 3 White Soldiers (i.e. 3 big up days back-t0-back-back).  Also we got a 13-day vs 34-day EMA bullish cross today.

Want to know my daily Elliott Wave forecast and price targets?  Sign-up for the Premium Service, which is on free trial the rest of this final week of July.

SP-500 Daily Candle Chart (EOD):

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