Many analyst were expecting an SP500 level of up to 2035. Seems it may have just fell short at 2011. Today’s piercing of 1990 levels may be taken as a confirmation that the 5th wave has been over. Or else? Anyhow, if it is true, then buckle up because it may be a sharp slide down, as the Elliott count completes 3 timeframe 5 wave count as well. Besides we can see a Head and Shoulder pattern, which indicates bearish mood. But again, you’ll never know. It can jump back up from here and go back all the way to 2035. I just wanted to share some observation.

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Mike

BMMA14 

Many analyst were expecting an SP500 level of up to 2035. Seems it may have just fell short at 2011. Today’s piercing of 1990 levels may be taken as a confirmation that the 5th wave has been over. Or else? Anyhow, if it is true, then buckle up because it may be a sharp slide down, as the Elliott count completes 3 timeframe 5 wave count as well. Besides we can see a Head and Shoulder pattern, which indicates bearish mood. But again, you’ll never know. It can jump back up from here and go back all the way to 2035. I just wanted to share some observation.

There is already an active discussion on the Spoo's here:

Spoo-nalysis ES e-mini futures S&P 500 Lame Ducks Both Fed Chairman Bernanke’s remarks yesterday and President Obama’s speech last night about his jobs plan; combined, failed to reassure the market that a solution to the country’s economic woes was at hand, and the …

If you want this thread to be solely about Elliot Wave on the SP500 then you should select a more appropriate thread title that has staying power (long term). Otherwise this thread would be considered a duplicate and would be closed to prevent a split topic discussion.

Mike

Big Mike 

There is already an active discussion on the Spoo's here: Spoo-nalysis ES e-mini futures S&P 500 Lame Ducks Both Fed Chairman Bernanke’s remarks yesterday and President Obama’s speech last night about his jobs plan; combined, failed to reassure the market that a solution to the country’s economic woes was at hand, and the … If you want this thread to be solely about Elliot Wave on the SP500 then you should select a more appropriate thread title that has staying power (long term). Otherwise this thread would be considered a duplicate and would be closed to prevent a split topic discussion. Mike

Allright. That't fine. I don't plan to have a thread for elliot wave on sp. It was just a one shot post. Next time, if I have comments regarding SP, I'll go to the thread you have indicated/rgds