here my wave count for sp

Wavetimer, you have been making great calls. Thanks very much for sharing your work.

I'm no Elliott expert but would appreciate an Elliott-based opinion: could Wavetimer's chart be B (up) of an ABC starting from the 2000 high? also- if the big 2002-2003 wave (labelled here as waves 1-2) were actually the failled part of the downwave from 2000, then the orthodox start (for labelling purposes) could begin at 2002. This would allow you to label the 2003- July 2007 wave as a 5 wave, and the subsequent Aug-Jan wave as a flat correction. [and no new high likely] Would this suggested labelling be too much of a stretch to be valid Elliott? Perhaps wave labelling has to be "ambidextrous" when markets roll from a 5wave bull to a 5wave bear? And not to cloud this with fundamentals, but it's difficult for me to see how we'd get a further 5th wave from SPX when transports, NDX, Russell, and precious metals seem to be finished with their upward impulses. Your ideas?

Edited by kwest, 09 January 2008 - 09:07 PM.