Andy’s Technical Commentary__________________________________________________________________________________________________
< III >- A -
S&P 500 ~ Monthly Log Scale
- B -
( A ) ( B )
( 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 )
REPRINTED from 4/22/2012 in order tore-emphasize the bigger picture count.