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Tuesday, March 27, 2012

$SPX: EW count and forecast "for the record"


Since price broke our last "clue point" so our HS and neckline could be in play we have been trying to forecast this bear rally, because this Intermediate wave B is part of a bearish cycle wave 2,down and we are posting this forecast for our own record. Our principal points to watch are:

 1.- The end of  wave 3 of c of B at 1,442.
2.- The end of wave 4 of c of B at 1,282
3.- The end of wave 5 of c of B at 1,488

We stick to our overall forecast of a cycle wave 2 down. What is more difficult to try to forecast is timing.


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