nick.holland78
Long

SPX500 - Weekly

FX:SPX500   S&P 500 Index
119 0 1
Big Picture. Actionable details can be found on my shorter-term ideas. This Elliott Wave count would only be revised with a break into the high 1600s. Alternatives have been considered and, ironically, some are even more bullish than presented here over the long term. All alternatives would require support in the alt (4) region to break, so let's be patient.
The most pessimistic alternative I can consider is that Circle 3 is already complete, with Circle 4 on-going. This situation leads to a lower, and earlier, completion of wave V.
In log scale, wave Circle 4 may not seem too dramatic. I for one will NOT be holding any long positions as wave (5) of Circle 3 completes. Retiring in the next decade? Tread carefully near the top of major waves. The recent wave (4) is quite small by comparison...and the drop following wave V will be painful for anyone long indices. I doubt any equity sector will be safe.
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