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(11/26/16)
For those that follow Wave Analysis it certainly appears to be 5
distinct Waves from the March 2009 low. The 4th Wave bottomed in early
February and the rally since then is likely the final 5th Wave.
The 5th Wave should be composed of 5 smaller Waves and it
appears the post election rally is potentially the last Wave up.
In this set up Wave v shouldn't be more than 78.6% of Wave iii
which was 202 points. So that means Wave v shouldn't rise above the 2243
level by rule. On Friday the S&P 500 closed right at 2213 so
potentially the S&P 500 could rise another 30 points.
Meanwhile the S&P 500 has rallied back to the upper
Bollinger Band like occurred in July (point A). Back then it lingered near
the upper Bollinger Band for 5 weeks before eventually going through a
correction (points B to C). Thus it's certainly possible the same thing
could happen again.
Amateur Investors
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