Short SPX ETF SH's Elliott Wave Count Since the 53.98 Cycle High, see http://stockcharts.com/charts/gallery.html?s=sh. Since the 53.98 Cycle High SH has done an inverse Elliott Wave 12345 down up down up down pattern (a huge Wave 3 Downcycle occurred, with it's own inverse Elliott Wave 12345 down up down up down pattern), with a Short Term Wave 5 Downcycle in effect since shortly before Thursday 9-23-10's close.
It looks like SH's Monthly Downcycle will probably bottom and SPX's (S & P 500, http://bit.ly/i0nsT) Monthly Upcycle since 8-27-10 will probably peak shortly after SPX probably fills the 1157.43 upside gap, possibly early on Monday. SPX's big spike move since just before Thursday 9-23-10's close is a sign of important peaking action, and, volume should spike on Monday, if SPX peaks.
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