SPX daily update and big picture

Wednesday, March 25, 2009

We are living historical times and therefore we must take all the advantage we can from these moments. The actual uptrend have contributed to split up Elliotticians opinion about the following path. According to the majority, they believe we are already living an historical rally, but there are few of us that still consider we are heading towards new minimums.

In order to achieve a rich and fair debate, i let all these thoughts for your judgment.

Personally, although yesterday i pointed out the end of wave V, i prefer the new minimums approach. The motives are unequivocal when you see the chart Nº3. Despite all that, the actual probabilities support bull counts, for that reason the next wave development should enlighten us whether we reach new minimums or not.

In short term i think it's missing one last wave to finished this countertrend.

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