iamthewolf

Elliott Wave: Week of 3/12/18 - Simply UnBEARable

SPCFD:SPX   S&P 500 Index
The clammer of bears has been silenced by the rally of last week. Some retain hope, but would be wise to read the signs of new highs by Nasdaq and other leading sectors.

Market behavior has been totally consistent with Elliott Wave Theory ( EWT ) projections. Various alternatives are always considered and this graph provides the more conservative bullish forecast for new highs. Even a bearish assessment points upward for insult to bears clinging to hope for a correction. For example, an equal leg up to the original bounce off 2533 (or 200d sma ) puts the b wave's end at 2900. They'll be disappointed yet again when they realize it is lower degree wave 3 within wave 5, not wave b.

All alternatives make the near term unfriendly for those expecting lower prices, or put simply - unBEARable .
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