Segun Anthony Caldaro de OEW;
MEDIUM TERM: uptrend new high SPX 1123
LONG TERM: bear/bull inflection point currently favoring the bulls
MEDIUM TERM: downtrend in jeopardy
From the Mar 09 SPX 667 low the market has rallied in three waves into the SPX 1150 high. In the bear market rally we expected it was labeled an ABC. If we were wrong, and this is a new bull market it would be labeled a 1-2-3. We have both of these counts posted on the SPX and DOW charts respectively. In a bear market all of the downtrends need to display impulsive characteristics. From Oct 07 to Mar 09 all downtrends did. D
uring the Mar 09 to Jan 10 rally there was only one downtrend, and it was corrective. This is normal for an ABC bear market rally. Upon completion of this type of ABC rally the next downtrend to follow should be impulsive to resume the bear market.
The current downtrend has not been impulsive, but corrective and very similar to the Jun-July downtrend.
Esto de la similitud en la correccion en 3 ultima con la de Jun-Jul aca se comento. Son muy pocos los elliotistas que se plantean esta posibilidad hoy por hoy, la mayoria con Pretcher a la cabeza siguen confiados en que el Bear market va reanudar y que iremos a new lows.
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