.......The S & P 500's (SPX) Elliott Wave Count
See annotated chart 1 at http://www.joefrocks.com/GoldStockCharts.html for the S & P 500's (SPX) Elliott Wave count. An intermediate term cycle high occurred at 1555.90 eight sessions ago, for the intermediate term upcycle that began in March (see chart 1 at the link above). The current substantial decline is probably just Wave A down of the intermediate term downcycle (see chart 1 at the link above).
Note the Elliott Wave ABC down up down pattern in the previous intermediate term downcycle (see chart 1 at the link above) and in Wave 4 down of the most recent intermediate term upcycle that recently peaked at 1555.90. I probably should do an SPX chart weekly or at least as required.
It's possible that the recent cycle high at 1555.90 is a very important Cyclical Bull Market cycle high for the Cyclical Bull Market that began in October 2002. If so then SPX's Cyclical Bull Market uptrendline will clearly break down and flash a major sell signal.
....... http://www.JoeFRocks.com/ .
Note the Elliott Wave ABC down up down pattern in the previous intermediate term downcycle (see chart 1 at the link above) and in Wave 4 down of the most recent intermediate term upcycle that recently peaked at 1555.90. I probably should do an SPX chart weekly or at least as required.
It's possible that the recent cycle high at 1555.90 is a very important Cyclical Bull Market cycle high for the Cyclical Bull Market that began in October 2002. If so then SPX's Cyclical Bull Market uptrendline will clearly break down and flash a major sell signal.
....... http://www.JoeFRocks.com/ .
posted by Joe Ferrazzano at
9:25 PM
