1923: Revisiting the Long Term Bullish Elliott Wave for the S&P 500
- Posted by Greg Harmon
- on April 27th, 2012
The chart below was originally posted on November 7, 2010. A lot has happened in the intervening 18 months but the story remains in tact. At that point, Wave (1) within Wave (III) was still forming. Now, the projection for the peak of Wave (III) still stands but we can add that Wave (3) within Wave (III), the current minor Wave higher, is likely to end above 1419 and before 1632 based on Elliott rules that the 3rd wave cannot be the smallest. Amazing what the big picture can tell you. 1923 the figure, not the year. Stay tuned.
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Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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