Elliott Wave Count

SP:SPX   S&P 500 Index
160 9 2
Any thoughts on the wave count enclosed? I make it that we still haven't seen the top of larger wave 3 yet though not far off.
Comment: Wow..
it does seem to be channeling, but the lack of momentum is a problem for the wave 3 scenario. if this is instead corrective, as in a diagonal wave ,then the wave 4 will likely overlap wave 1.
I have a couple of counts, not sure how it plays out. Here is a count I've seen others traders follow. If this is correct 1.618 is at 2200
elp elp
Here's an alternate count which makes more sense to me. I am looking at the 2011 highs as a B wave, since there is a clear five ways up off of 2009 lows to 2010 highs and made an a b c from 06/2010 to 10/2011. Over all, believe higher prices to come as long as cental banks keep proping up this market.
+1 Reply
elp elp
count off october lows.
elp elp
Thx for sharing.
Agree with the elliott count although the the correction (assuming it occurs, which i do), shall not be as deep on the first leg.
Your top line is a bit arbitrary. There are two lines that map the top: the linear going through mar09 low and taking all the tops since 2013 and the log line taking all the tops since 2010.
Conclusion is the same. I hope we are right.
Yaka, the 1820 level not that far off now!?
YaKa Lechacal
I think it is a buy here into month end and after a contained correction early sep i see a buy to the 19th of September
YaKa Lechacal
good forecast sir.
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