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Sunday, February 12, 2012

$SPX: A little look to the "big picture". 90 years of price action.

The chart above, is a chart we posted some weeks ago and is from 1980 to date. There you can see our EW count and why we are, long term, bearish because, if we are right, now is developing Primary wave C (red) of cycle wave 2,down

To reaffirm our bearish EW count, we need to take a look to the charts above and below, monthly, 90 years. The first one, with a huge megaphone top and the second one with a huge bearish divergence, between price and monthly MACD.

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