S&P500 Elliot Wave Update; bull count continues to track the market the best.

For weeks we’ve presented the bull count for the S&P500 shown in the chart below to our premium members as our preferred count and it has been able to nail the recent market highs and lows for weeks accurately. As such we see no reason to change it until the market tell us too.

In summary; we have the market now in nano iv -possible already completed at Friday’s SPX2292 low- of minute v of minor 3 of intermediate iii of major 3.


Early December we forecasted for our members that minute iii (white) would top in the SPX2274-2280 zone. We got SPX2278. Then we forecasted minute iv top drop to SPX2244-2257. We got SPX2234. After, we then were uncertain if the move from that low to the SPX2282 high was an ending diagonal for all of minute v or of it was a leading diagonal (LDT) for only micro 1 (orange) of minute v.

But, given we’re dealing with a bull market until proven otherwise, and at SPX2282 no standard Fib-extensions for a possible minor 3 (green) were hit neither at the minor-wave degree level, nor at the intermediate wave-degree we preferred the LDT, and this has so far proven to be right. In fact, micro 3 has subdivided nicely into nano waves (grey), where nano-iii hit the 100% extension of micro 3, measured from micro 2 (SPX2254) to the T. This adds confidence to our POV as 3rd of 3rd waves often hit the 1.00x Fib-extension of the prior one-degree higher 1st wave.

Nano iv can now have completed as we have a SPX2292-2282 target zone, but may tag on another b- and c-wave, though that we simple can’t know yet. Once nano-iv is completed, we can then expect nano v of micro 3 to rally to SPX2315ish before micro 4 takes hold. Eventually micro 5 of minute v, and therewith all of minor 3, should end at SPX2238-2355 as that’s the standard Fib-extension target zone for 5th waves: 1.764-2.000. In addition, at SPX2355 price will have also reached exactly the (red) 1.382x Fib-extension of intermediate i (SPX1992-2188, measured from intermediate ii (SPX2084); which is also a typical Fib-extension target for a 3rd of a 3rd wave.

In conclusion as long as the market keeps behaving according to bullish waves and keeps hitting bullish Fib-extensions rather accurately, we see no reason to change our POV and count until we’re told to by the market. As such we do not have an alternate or even bearish count either short or intermediate term.

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