The current e-wave structure displays a potential triple zig-zag, with two upside targets - SPX 1168 (c=a) and SPX 1215(c=1.618*a). The crest of this last 20-week cycle (of the current 9 month cycle) is due end of January 2010, which is where i expect this market to complete it's e-wave formation. After that, it gets bearish as we plunge into the 9 month cycle bottom sometime in mid-March 2010.
1 comment:
Nice chart. I agree the market is heading higher. I don't work with EW, so I have no opinion about potential targets. I prefer to trade in the direction of my signals, which are bullish and have been for over a month. Stay long and strong. Best for the New Year.
maineman
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