Elliott Wave Analysis of the S&P-500 (SPX) by Sid from ElliottWavePredictions.com. Click on the chart twice to enlarge.
Here in my most recent wave-count roadmap for the S&P, as explained in Sunday’s live webinar. My main count is now that the October 27 high will hold, and that Wave C burgundy is underway, with a continued Oct/Nov 2012 target of 869. Also, as I had shown in the last S&P post (Nov 15), my now alternate count, which calls for a year-end rally, is quickly painting itself into a corner. One of the wave counts should invalidate this week, depending on the direction of the SPX from the “moment of truth”, as depicted on the chart.
P.S. If you’d like to learn more about “my method”, I’ve recorded a 2-hour video explanation of it. Here’s how to access it.