Don’t Panic Yet. More Elliott Waves

By Christopher Diodato – TradersBase.com
We’re obviously in a symmetrical triangle formation right now, and today’s price action drove us right down to the bottom trendline of the formation.  However, my Elliott Wave analysis is saying that tomorrow is supposed to be a major pivot point for the market, and that the eventual breakout of the triangle will be up.  Here’s my analysis.  Hope we’re right again!

 

 

Happy trading!

~Christopher Diodato

Christopher Diodato

About Christopher Diodato

I have been trading since my eighteenth birthday to pay for my college tuition. It was at first rocky, but now trading is my love, my work, and my passion. In addition to my experience in markets, I have passed all three exams to obtain the Chartered Market Technician (CMT) credential. I believe that I am the youngest to ever do so! I want to help out small investors to make some money on the side. There's a common notion out there that "big money" rules all. I disagree. With enough hard work and discipline, anyone can become the next Paul Tudor Jones!