This weekend I present another view on the longer-term Elliott Wave count on the weekly cash S&P500 from the all time high set in 2007. This count is now preferred to the one presented last weekend because the move up from March 6 now looks corrective (a zigzag) rather than impulsive. Either way I view it as further evidence that the equity lows are in for 2009; but not for the entire bear market (those will come next year). Yet another uptrending week has moved my objective trend rule to a “sideways to down” rating from “down”.
Sunday, 19 April 2009
Brief Weekend Comment
This weekend I present another view on the longer-term Elliott Wave count on the weekly cash S&P500 from the all time high set in 2007. This count is now preferred to the one presented last weekend because the move up from March 6 now looks corrective (a zigzag) rather than impulsive. Either way I view it as further evidence that the equity lows are in for 2009; but not for the entire bear market (those will come next year). Yet another uptrending week has moved my objective trend rule to a “sideways to down” rating from “down”.
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