This is,again, a "big picture" about Elliott wave count and forecast for $SPX. We have call weeks ago that prive was going to retrace to 1,370 and then go up again ( this we can't forecast). What we can assure is that rally up can't surpass 1,576.09. This wave up will be as an minor wave 5 of intermediate wave c of primary wave B os cycle wave 2,down.
Our forecast for minor wave 4 at 1,370, maybe, has been reach on 11 September,2012 with a price of 1,373.06. We declare us bullish with this minor wave 5,up but watching closely price movement, because in any moment price can fall "very hard", as cycle wave 2,down, start its development, with a min target of 650.