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Monday, March 26, 2012

Elliott Wave Update ~ 26 March 2012

The best counts at the moment:

1.) SPX and Wilshire5000 are in wave (v) of [v] of C.
This count has some things going for it namely there is a slew of non-confirmations between indexes as of the close today.  Today was also less robust suggesting it may be a wave (v) of [v].

2.) SPX and Wilshire5000 are in wave (iii) of [v] of C.
This count would fit the wave (iii) if Wave [v] = wave [i] @ over 15,269, another 350+ points higher in the Wilshire.  This implies there is much more upside to wave (iii) of [v]. SPX target is 1440  - the May 2008 peak - or 1448 where [v] = [i].

This chart shows both options:  
Again, here are the 2 top counts:
If this is merely wave (iii) of [v], then 15,269 would be where [v] = [i]. In this case likely wave (i) of [v] would be the extended wave, not (iii).


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