Preferred Elliott wave view suggests wave “X” connector ended at 10864. Wave ((w)) took the form of a triple three structure and is proposed to be over at 11618. Pull back in wave ((x)) is now expected before rally resumes.
Interest area at 50 – 61.8 fib of ((w)) lies between 11244 – 11157. We don’t like selling the Index and expect to see buyers appearing in above mentioned area as far as pivot at 10864 low remains intact.