mikeoakster

Long term view on S&P 500

SP:SPX   The S&P 500 Index
Structure and pattern analysis.

The bad news is the rise from March 2009 being corrective...

The following "good" news would be the current downtrend being corrective, which would mean one more leg up to finish wave X.

The following bad news would be the current downtrend breaching the base of current channel and then turning impulsive, which would mean wave X was already in and that we would be falling into wave Y right away.

So, for me, it all depends on the index respecting or not the current channel.
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