Posted by: stockscooter | December 28, 2012

Bull or Bear?

There are 2 probable counts for the S&P 500, currently.  One is bearish and the other is bullish.  Once it resolves, the move will be large. It makes sense that the bearish scenario would play-out.  However, we must never say never to the bull.  Here’s how they look.  The first is a 5-3-5 zig-zag completion for wave 2.  If this is correct, wave 3 down has already begun.  The alternate count shows wave 3 began in October 2011 after an irregular flat A-B-C correction.  For this bullish cont to come to life, we will need a close above the 1442 area.  That would pretty much nullify the bearish case.  Let’s hide and watch and see how this plays out.  Either way, the markets are about to get real interesting.

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