SPDR S&P 500 (SPY)

[Two-timer]

This ewave mumbo-jumbo is enough to drive you crazy! Anyone want to comment on McHugh's analysis? Either we've started "catastrophic wave c down" or we haven't? My guess is that we haven't, mainly because the holidays will soon be upon us and I doubt Da Boyz will want folks to become upset and pull their money out of the market. But who knows? Two

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We believe wave (C ) down is very close to starting, maybe a week or two away or so. We are watching for downside breakouts of bottom boundaries of Rising Bearish Wedge and Ascending Broadening Wedge patterns to confirm wave (C ) down has started. We are now seeing new sell signals in most of our key trend-finder indicators. So the question is, has wave (C ) down already started?

We cannot rule out that possibility. However, we have another labeling that considers the decline the past few weeks is wave b-down of (E) up. Next would be wave c-up of (E) up of C-up of (B) up. Once c-of (E) up completes, (C ) down follows. If c-up is coming, it better st art soon. Because there is a phi mate turn date and a Bradley model turn date both on November 9th, wave (E) of C-up of (B) up may not have topped yet. A significant top is either in or approaching fast. The Demand Power and Supply Pressure indicators have now converged, in an environment where Demand Power is declining in a Bearish Divergence against rising prices. Historically, when this happens and there is simultaneously a DP SP convergence, a significant top is approaching. We saw this set-up in late 2007.