Tuesday, May 25, 2010

SPX's Monthly Downcycle Since 4-26-10 Might Have Bottomed Today 5-25-10 at 1040.78


SPX's (S & P 500, http://bit.ly/i0nsT) Monthly Downcycle Since 4-26-10 Might Have Bottomed Today 5-25-10 at 1040.78 (Wave 1 Monthly Cycle Low, if SPX's Major Upcycle since 3-6-09 peaked at 1219.80 on 4-26-10), see http://bit.ly/i0nsT. Note that SPX put in a very large/bullish inverse spike today (much more bullish than Friday's) on a white candle (close above the open), see http://bit.ly/i0nsT.

Also, in addition to doing an inverse Elliott Wave 12345 down up down up down pattern since 4-26-10, SPX's (S & P 500, http://bit.ly/i0nsT) Wave C/ Wave 5 Downcycle since the 1173.57 cycle high also did an inverse Elliott Wave 12345 down up down up down pattern. Also, SPX volume spiked dramatically to over 6 billion shares today, which jives with it being a good candidate for an important cycle low.
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