broughro
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One last push up to ~245; then, OMG, watch out below

AMEX:SPY   SPDR S&P 500
115 2 4
The Elliot wave count is very near completion of this primary and final 5th of a 5th of a 5th that will likely end around 245. The implication is that the next major move will be a primary degree correction that could very well end around ~60. Yes, 60.

The path of the 2007 downward correction is super-imposed here to indicate the expected minimum steepness to expect from this primary correction. It could very well be much steeper than both 2000 and 2007 corrections...
The Fed would not let this happen unfortunately.
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broughro sonatine185
@sonatine185, if one presumes the Fed controls the markets and herd mentality, then one hasn't learned from history...did the Fed control the 2000 - 2002 correction or the 2007 - 2009 correction? Nonsense, the Fed follows...
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