Friday, January 06, 2012

Market Week in Review

S&P 500 1,277.81 +1.17%*


The Weekly Wrap by

*5-Day Change

1 comment:

theyenguy said...

The Finviz weekly chart of the S&P, SPY, shows a 1.7% crest higher, preparing to enter an Elliott Wave 3 of 3 Down.

Wave Trader Mike Breaux posts $SPX Chart Article SPX "Price Levels" Will Create a Bullish or Bearish Case. I comment thta when I see 1 on October 3, 2011, and 2 on January 6, 2012, I come away with the idea that the S&P is cresting into an Elliott Wave 2 UP and is going to an enter an Elliott Wave 3 Down. Also Mr. Breaux’s related article ES Divergences suggests that a top is being made.

Peru Trader posts $SPX Chart Article Watch The Big Neckline presenting the 1 down and 2 up; once again communicating we are on the verge of a 3 down.

Daneric posts $SPX Chart Article Elliott Wave Update relating Its possible wave [2] traced a complex correction and the market is rolling over.

The Elliott Wave 3 of 3 downs are the most devastating waves known to mankind, for all practical purposes they wipe out all all the wealth created on the prior five waves up and they bring out the worst in human nature and governments.