Any Sustained SPX (S & P 500) Bounce Now Could Be a Wave B Counter Trend Move

Any Sustained SPX (S & P 500) Bounce Now Could Be a Wave B Counter Trend Move, within a larger Elliott Wave ABC down up down (also, a less pronounced inverse 12345 down up down up down pattern), see http://stockcharts.com/freecharts/gallery.html?s=spx, with 1258.07 only being a Wave A of Wave C (also Wave 3 Down) cycle low, with the final Wave C of Wave C (and Wave 5) Down yet to come.

SPX HAS probably completed (or nearly so at least) both an Elliott Wave ABC down up down and a less pronounced inverse 12345 down up down up down pattern, but, there's a good chance that it's within longer ABC and inverse 12345 patterns. Elliott Wave patterns often/usually occur within Elliott Wave patterns. Candles and volume patterns (plus various indicators and data I use; Cycles are also huge, Major Upcycle since 3-6-09 might have peaked) are a huge aid in evaluating the likely Elliott Wave count.

I say this because SPX volume at/near 6-16's 1258.07 cycle low was unimpressive/bearish, and, the daily and weekly candles aren't really/clearly bullish, see http://stockcharts.com/freecharts/gallery.html?s=spx. Also, largest SPX component XOM has a bearish 88.23/88.13 double top, see http://stockcharts.com/freecharts/gallery.html?s=xom.