SPDR S&P 500 (SPY)

[Two-timer]

Thanks, Fox, good update. You've got to be nimble if you take any short positions in this market. My old buddy and ex-guru, McHugh, keeps warning that the market is about to implode. At some point he and the other e-wave gurus will be right, I guess(?). Two

=======================

Stocks are rising in their final wave for this rally from March 2009, wave c-up of (E) up. This wave c-up is a five wave move and so far waves 1-up and 2-down are complete. Monday's rally is part or all of wave 3-up of c-up. If all of 3 up then Tuesday's decline is wave 4 down, which mean s Supercylce degree wave (B) could be topping with a week to ten days. If part of 3-up, then we have 2 to 3 more weeks left before catastrophic wave (C ) down starts. There is a small Bullish Reverse Head & Shoulders bottom in the Industrials that is looking for a rally to at least the 10,200 to 10,300 area. This could take a couple of weeks which is interesting as it places a top for this rally around our next phi mate turn date and Fibonacci Cluster turn window. However, the Rising Bearish Wedge patterns in the Industrials, S&P 500, and NDX we are following and show in this newsletter are all very close to completion, and there is an even chance that this pattern could truncate, and prices not spike above the upper converging boundary line, missing the upside targets. The point is, at this time there is substantial risk in the stock market - right now.