Elliott Wave Analysis SPX S&P500 (the top is “in” scenario) by Sid from ElliottWavePredictions.com. And finally, here is a scenario where the 26-month-old bull market ended on May 2nd. Since there are 4 viable possibilities right now, we’ll just have to see what the market reveals to us over the next few days in order to determine the preferred count. Right now, the market is chewing up traders with whipsaws, so I believe this is one of those times where prudence is warranted. The downward movement since May 2 appears choppy and overlapping, hence this initial depiction of the bearish leading diagonal. I’m going to drill down on a 15 minute chart next to see what the internal wave structure reveals. Stay tuned . . . Sid