Tuesday, 6/21/11 Update

The bear trend in the ES/SPX that started on May 2 has certainly been a choppy affair and very difficult to analyze, much less trade.  That bear trend was quite possibly done at last Thursday's lows, and today's rally is potential confirmation of that.  At this juncture there are several possible interpretations from an Elliott standpoint, none of which are very graceful.  Some alternates are presented in the chart section of this blog, to view them click HERE.