by Avi Gilburt, ElliottWaveTrader.net
Tuesday May 14th 2013
For the next few days, the green and grey count is the primary count, with the expectation that we will see wave iv in green consolidate after wave iii in green completes around the 1652ES region. However, if the market is able to take out the 1652ES level sooner, then we are likely one wave degree higher, and will be targeting the 1666ES region to complete all of green wave (3) earlier than expected.
So, the important support levels to watch are 1623-1634ES, with resistance now at 1652ES and then 1666ES.
And, as a reminder, Cow and I will not be back until Friday in observance of a religious holiday.
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