Tuesday, April 9, 2013

S&P 500 ~ Elliott Wave Count ~ 9 April 2013

Today's new high invalidates the previous count. Fortunately, 1540 was never breached and thus we never got a sell signal. Nevertheless the waves have to be relabeled.

Unfortunately, there is no clear count, so until things clear up I'll post two different possibilities:

We could be in an extended fifth wave. If the SPX breaks its all-time highs and stays above it, this is the most likely option.

The second possibility you can see below. March/April was probably a very long fourth wave and now we are in wave [v]. It might look very similar to September/October 2012 (long fourth wave, short fifth wave).

If you see any other possibilities, feel free to post them in the comment section.