Wednesday, December 23, 2009

Potential e-wave structure

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.