Elliott Wave Analysis of the S&P-500 (SPX) by Sid from ElliottWavePredictions.com. Click on the chart twice to enlarge.

As equities continue to rally, I’ve received a number of emails asking “Is there another scenario that would allow stocks to continue to rise, possibly to new highs above the 2011 highs?” So here is an alternate count I’ve been showing in my weekend webinars for weeks. All the explanations are on the chart. I still consider this an alternate count, but with the potential now that price will continue to put in new highs past the confluence of fibonacci turn dates, this alternate count must be taken seriously, in my opinion . .

Sid