Elliott Wave Update ~ 27 March 2014

Today was a bunch of sideways movement which could indicate a small degree wave (4). Tomorrow's open should be telling. If prices go lower, than a 5 wave move will have occurred from the recent counter-trend high. If it opens higher and overlaps where red (1) is, then things get muddled for the bearish side.

Remember for the bearish side, we want to see 5 wave impulse moves at every degree of scale.