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Dec 182012

SPX 60m 12-18-12

Elliott Wave Analysis of the S&P-500 (SPX) by Sid from Click on the chart twice to enlarge.

The up-move from the November 28 low is choppy and overlapping, so the best interpretation I can deduce at the moment is that of an expanding ending diagonal for wave c pink. Wave 5’s of expanding ending diagonals are relentless, and must be longer than wave 3 was. If this count is correct, the S&P must move up to at least 1452.25 before retracing the entire move up from the November 16 low and more. Invalidation is at 1464.02.


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