"the better part of a rising phase of a corrective wave (i.e. the 3rd wave of a "c" wave of a "b" wave up from April 18th bottom) on volume screaming contrived demand, of course, is widely celebrated in fantasy land, but is likely to be given back as the market continues to base in preparation for its final move higher preceding its rather still probable collapse."
Here's that in a picture...
Easily a thousand words await your concurring insights underlying this markup. That wave count you see is technically well confirmed. It's a different Elliott wave count than last week's, too. This one puts the S&P 500 more in line with the other majors in approaching what easily could be a top for the ages.
Whether wave c of 4 (of 5 waves up from mid-November 2012) falls within the range of the 4th wave of one lesser degree—a unique, Elliott Wave Principle insight—well, we'll see what turn tomorrow brings.
Across the broader array of technical measures we assess here from time to time is concurrence with this view, as well. So, put that in your pipe and smoke it where the sun don't shine at night (which is everywhere, Spock).
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© The Risk Averse Alert — Advocating a patient, disciplined approach to stock market investing. Overriding objective is limiting financial risk. Minimizing investment capital loss is a priority.Analysis centers on the stock market's path of least resistance. Long-term, this drives a simple strategy for safely investing a 401(k) for maximum profit. Intermediate-term, investing with stock index tracking-ETFs (both their long and short varieties) is advanced. Short-term, stock index options occasionally offer extraordinary profit opportunities when the stock market is moving along its projected path.
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