All That In A Picture ~ The Risk Averse Alert

Tuesday, May 07, 2013

All That In A Picture

Following Friday's leap I concluded,
"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).

Word on the Street
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