Monday, October 19, 2009


SPX: Today, the market hit 1100 for the first time this year and we are only about 480 points below the all time high : ))

In the chart above you see how I see the rally since 1020. First we've got five waves up making it wave (a), followed by wave (b) and wave (c) currently underway. So far, I can count four completed waves of wave (c). The last wave seems to be still in progress.

I subdivided wave v of (c) into its components:
wave [1] to 1091, wave [2] to 1086, wave [3] to 1099 and wave [4] to 1097. Tomorrow wave [5] should unfold with a possible target of 1108ish.

Primary count: in [5] of v of (c)
Alternative count: none