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Created on: 4/29/2011 6:50:13 AM Last Update: 4/29/2011 6:53:16 AM Posted by: RTT
WARNING: This entry is 5644 days old. It may contain broken links, out-dated or misleading content. Please read on with caution.
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This SP500 chart is NOT pretty - UPDATE
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 Cant resist an update to the Elliot wave count in a previous post. Confession, we are not Elliot Wave experts, and we are using Elliot Wave 101 here. When its simple and obvious we can count the waves out ok. So pinch of salt and all that.
No matter what measuring stick you use to measure this massive bear market bounce or bull market within a bear market or 'V' recovery prices have run up for a long period and something is bound to happen.
NOTE: Only a mad man would call a top in this market. But its fun !
This is an update to this post: This SP500 chart is NOT pretty
To conclude: Price is in the final rally up, ending at a larger count of 5,5,C. Currently price will either do a ABC and finish within days or break into a small 5 count and finish in a couple weeks (mid may, 'Sell in May').
Could the massive ABC from March 2009 lows be a mere 1 and 2 of a massive new bull market. If that is true then this may be the new USA flag. Hope not, money printing and currency devaluation are tools of economic policy failure. Learn more via Keynes vs Hayek .
Here is a best count...
NOTE: Posts here are the lite version, more depth on each subject can be found via our RTT Plus membership.
Changes in the world is the source of all market moves, to catch and ride the change we believe a combination
of Gann Angles,
Cycles,
Wyckoff and
Ney logic
is the best way to ride the change, after all these methods have been used successfully for 70+ years.
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NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net
Investing Quote...
..."Vibration is fundamental; nothing is exempt from this law; it is universal, therefore applicable to every class of phenomena on the globe."...
William D Gann
.."Just because you’re taught that something’s right and everyone believes it’s right, it don’t make it right."..
Mark Twain
..“Don’t try to buy at the bottom and sell at the top. It can’t be done except by liars.”..
Bernard Baruch
.."Socialism in general has a record of failure so blatant that only an intellectual could ignore or evade it"..
Thomas Sowell
.."The key to making money in stocks is not to get scared out of them"
Peter Lynch
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We at readtheticker.com hold the view that a mix of stock chart technical analysis, Richard Wyckoff, William Gann and Jim Hurst methods plus market fundamentals allows the investor to formulate a very sound market opinion. These attributes are mutually inclusive and must be weighted equally before investing or trading in any Stock, ETF, Currency, Bond, Commodity, CFD or Mutual Fund
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