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IT Elliott Wave Update and Market Structure Projections Today

FX:SPX500   S&P 500 Index
Good morning Everyone. The last couple of days have been a wild ride with the massive whipsaw on the Fed minutes release and subsequent market selloff. The proposed Elliott Wave flat that we highlighted back on the August 4th (see link for related ideas) still continues to track exceptionally well. We've entered into the wave 3 portion of the decline as is highlighted in the representative drawing below. Third waves in Elliot Wave are spectacular and run much further than many think possible so any attempts to initiate long positions during this phase of the structure should be taken with the utmost care with very tight stops. We've got an ideal target for the completion near 1900 and the 23.6% retrace of the rally from the 2011 lows. We've got a couple of articles for you today. The first is a look a market conscience through the eyes of our proprietary Tick Tools and the second is the Market Structure Projections. Good Luck today and profitable trading, and again, be careful, this is not a time for complacency.

If you have any questions about our analysis or any of our analysis systems, contact me at any time at john@mcm-ct.com

Market Consciousnesses Article Link
http://mcm-ct.com/blog/market-consciousnesses-is-running-through-a-flux-capacitor/

Market Structure Projections Article Link
http://mcm-ct.com/blog/intraday-projections-market-flux-capacitor-powered-by-vapor/
Great Call
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