patrick.net

Like the Dow, the S&P 500 sports multiple alternatives for direction. As we predicted last week, the index continued its downtrend and all indications are that it will continue to fall in the coming week.

Also like the Dow, the S&P 500 may have formed a fourth wave triangle. If so. there is the possibility that a new high could be achieved. The odds are remote, however. The S&P and the Dow structures have formed similarly. So rather than reiterate this alternate scenario, see this week’s Dow update for a description of the triangle possibility.

http://www.globaldeflationnews.com/sp-500-indexelliott-wave-update-for-week-ending-1302015/