Replies to post #316 on S&P short term cycle swings

[SyndicateTwo]

I talked to him yesterday and he thinks that because these indexes all made outside day key reversals on the weekly charts as I pointed out above in the Russell chart, the likelyhood of a major selloff in a major leg down 5th is minimul. So, the thinking now goes that this will be a 'flat' 5th wave leg down that just refreshes the market as a pullback - or this was a wave 1 up.

This is the problem with Elliotwave. So many of the wave counts can change and makes your previous count void.

But the trade is to buy this dip/