Andy¶s Technical Commentary__________________________________________________________________________________________________
S&P 500 ~ Year Ahead Look
( A )³w´³x´³y´
This is my projected price action for 2012. The world¶s political focus will turn to the U.S. Presidential Elections. The U.S. Stock Markethas held in very well during the ³upheaval/crisis´ facing Europe. The wave count suggests that situation will change in the year ahead.The market looks headed for another whipsaw/choppy year butthere should be a downward bias as the (C) wavebegins to take hold.
One wonders what ³news´ might causethe bear market?
( B )³z´³x´
Important Top at 1345
woonduring ³Presidential´ uncertainty
Rally into election dueto greater ³certainty´
( C )
The above bearish wave count is predicated on theS&P 500 remaining below 1345. Any break of that level would cause a recount.