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Market Commentary 1JUL12

Market Commentary 1JUL12

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Published by AndysTechnicals
Updated look at the S&P 500 and DXY
Updated look at the S&P 500 and DXY

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Categories:Types, Business/Law
Published by: AndysTechnicals on Jul 01, 2012
Copyright:Attribution Non-commercial

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07/02/2012

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Andy’s Technical Commentary__________________________________________________________________________________________________ 
 9/1/2000
< III >- A -
S&P 500 ~ Monthly Log Scale
- B -
( A ) ( B )
“z”
 
( E )
- C -
This longer term count remains favored. Nothing in the market has altered this view. Thehigher this (B) wave travels, though, it becomes more likely the (C) Wave will not be that
powerful of a move. The (B) wave is „telling a tale‟ of underlying strength. So, the next
corrective move lower should cause the S&P 500 to break below 1,000 but it‟s unlikely we
will see action below 900.
This next (C) will be at least a TWO YEAR grind lower.
( C )( D )
“w”
 
“x”
 
“y”
 
“x”
 
REPRINTED from 4/22/2012 in order tore-emphasize the bigger picture count.
 
Andy’s Technical Commentary__________________________________________________________________________________________________ 
 
S&P 500 ~ Weekly
( A ) ( B )
“z”?
 
This model continues to be my best accounting of the price action from the lows. The highs from early April (1419)will be need to hold in order to maintain this count. Any action above there would suggest a different type of
correction from the Mar „09 lows. It would be most likely a seven legged „diametric,‟ an idea that we‟ve discussed
before.
“w”
 
e
“x”
 
“y”
 
abcdabcde
“x”
 
a?b?
 
Andy’s Technical Commentary__________________________________________________________________________________________________ 
 
S&P 500 ~ Weekly: A Diametric?
( A ) 
 A diametric would suggest a new high for the (B) Wave but only marginally so due to the „constraints‟ of athis particular pattern. When the “c” wave is shorter than the “a” wave, the “g” wave MUST be shorter than the “e” wave. This particular outcome would be an extremely difficult market to trade for the next
several months and would certainly wear down most bears/shorts.
 
“a”
 
e
“b”
 
“c”
 
abcdabcde
“d”
 
“e”
 
“g”
 
“f”
 
 
( B ) 

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