May 052009
 
S&P500 continues irs rally

S&P500 continues irs rally

The 886 level in S&P didn’t hold for long, and any shorts there should have been stopped just above that level. The market continues to remain strong, and there is a pretty good chance we will reach 937. See what happens there. Don’t sell until we know a top is in place. As we are in the extending 5th wave position, we will have sufficient time to capture a good sized correction on the way down. (Usually we will get a 2nd retracement to the top, and the clues will be plain to see. I will ofcourse update you). For now, expect to proceed higher, and you should trade accordingly.

Related S&P500 links:

Was that the stock market bottom?
SNP500 revisited
S&P500 and Citi

Fifth wave extensions can make you rich!

What is a significant rally in the stock markets?

Harmony in markets: S&P500

S&P 500: Potential Ending Diagonal Triangle

Ending Diagonal Triangle in S&P500?

S&P500 Elliott Wave update

S&P500 index: is a top already in?

S&P 500 update: where is the top?

S&P500 remains resilient

S&P500 ready to dive?

S&P500 Update: May 19, 2009

S&P500 Elliott Wave update:21 May 2009

S&P 500 breaks higher: update 2 June 2009

  4 Responses to “S&P500 continues its rally”

  1. Ramki you´re the best elliotician ever. Your count always make sense!

    • Thanks, Fausto. The market is a great teacher and can quickly humble anyone who thinks he is smart. So I always claim to be a student, perhaps with more grey hair than many of my friends ;)

  2. Thanks for the update Ramki. There is a gap from 1/7/09 at around 930 that I feel will get filled..

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