elliott wave analysis of xjo & spi, page-62

XJO

Working well, so kind of the US traders to dump hard.

I like the RSI, thats a good sign that this is likely still inside a 3rd wave, the angle is also indicative of a 3rd wave, so whilst its not broke i dont need to fix it.

We can move key resistance to 5134, the market remains bearish under 5134 and i continue to look lower as shown.

A move above 5134 and i will reevaluate.