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

Here in my most recent wave-count roadmap for the S&P, as explained in Sunday’s live webinar. My main count is now that the October 27 high will hold, and that Wave C burgundy is underway, with a continued Oct/Nov 2012 target of 869. Also, as I had shown in the last S&P post (Nov 15), my now alternate count, which calls for a year-end rally, is quickly painting itself into a corner. One of the wave counts should invalidate this week, depending on the direction of the SPX from the “moment of truth”, as depicted on the chart.

Sid
http://elliottwavepre.wpengine.com

P.S. If you’d like to learn more about “my method”, I’ve recorded a 2-hour video explanation of it. Here’s how to access it.