Sunday, December 13, 2009

Elliott Wave Update Week 50 ~ 1160ish

SPX: I don't have much to add to yesterday's update. The bear market rally seems to be in its final stage and I still expect the top to be around Xmas.

At 1159 Intermediate wave (Y) equals (W) and at 1168 (a) has the same length as (c). So, I expect the top to be around 1160.

I'm sure you've seen some different Triple Zigzag counts for the rally since March. All I can say is that also these counts are also possible and correct. The best thing though is that also in a Triple Zigzag count a last upwave is still missing. And wave relationships suggest a top around 1160 as in my Double Zigzag count : D

Tony over at wrote a very good weekend update and explained why he thinks that 1160ish should be the top. I really recommend to read it. ; )

Have a nice week,