SPX W November 2014 WC 3rd

As discussed in the November update, The power of the bounce off W4 makes it highly likely that we are going to have an extreme W wave 5, which would deliver the usual Santa Rally with projected highs of 2030 mid to end of December as shown below.

We have not completed D1, which again is expected to be an extreme wave and will top on the W234 MLU, most likely this week around 2070 for a pause next week to retest support of the 2002Q3Q4MLU to make D2, and D3 should test M012MLU around 2200 near the end of November correcting to test support of the W234MLU for D4 making the final high for in December around 2330.

Confirmation of the extreme wave is the break of the W234MLU. Failure to break the MLU makes it highly probable that M3 is in once a new ATH is made.

SPX WC 3 November

As each line indicates support / resistance on its colour fractal wave scale and it takes too long to write them out manually I will no longer be taking them off as I can update more charts in that time!

2 Responses to SPX W November 2014 WC 3rd

  1. Carlos says:

    I think that instead of “makes it highly unlikely” you meant ” likely ” and December high would be 2330 instead of 2030…I think…so the all message could make sense, right?
    Nevertheless 2020 (Oct31) – 2330 (Dec) makes more than 10% rise!…I have dificulty to believe in such “explosion” on US indices…but we will see…
    thkx.

    • Marc says:

      Thanks for errors – have edited them- Must lean to type with my mind and not fingers!

      Is the target reasonable? Well we are nearly half way there in under 3 weeks and typically 5th waves one would expect a spike high for an important top, as last months spike low. A double or triple top generally is less important than spikes as spikes indicate panic at the end of trends.

      On a far simpler behavioural view – the majority must be wrong (which is why democracy really is not the best form of social control). Look at the number of bearish screams we have recently had we are in primary wave 4 ……. sentiment is what it is about when everyone is bearish or bullish – then we are getting close to an extreme which is needed to move the pendulum the other way (change trend)

      What is causing the explosion – an implosion else where causing capital to flow to the only market with depth – the US and US$ which together are larger than the rest of the world. The US still is the financial capital of the world despite their stupidity with NSA, FACTA etc which are killing the global economy.

      THIS IS NOT ABOUT QE – IT IS ABOUT CONFIDENCE

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