Replies to post #90741 on SPDR S&P 500 (SPY)

[GLENO34]

Some are thinking we may be putting in a double bottom in here,,??

[blasher]

Prechter has not been wrong all this time . . .
* in the summer of 2007 he forecast the 2007-2008 Crash ...
* and in Jan/Feb-2009 he forecast the March-2009 Rally.
I would not bet against him unless you're very short-term Trading.
I think it would be prudent not to load up on Longs right now
until we see a break-out higher and Close above the key level of SPX=1100 ...
we've had three pokes above in the past 3-weeks on low Volume ...
but nothing showing Strength.
I suggest not getting caught up in the euphoria of hitting 1100.

As always, Good Trading to All !!

P.S. --- all recent Elliott Wave (Prechter) Articles can be found here:
http://elliottswave.blogspot.com

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