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What about S&P500 ?

According to the technical picture we can see either wave five of arm C from 1074 or there is second top on 1420. The weaknes of the SP 500 is manifested by crossing 10th and 20th simple moving averages on the week scale, which usually is a harbinger of deeper falls. In case of wave five the level of 1470-1490 might be reached (as one of the possible scenarios). In case of wave C its time related to wave A (666 - 1370) would be a little strange, less than 0,5. The area 1470-1490 is obatined by 0,564 expansion (1370-666) and 1:1 expansion wave one of hypothetical C (1292 - 1074). Probably the second top is being formed.
thanks, I'll just watch the key #s that act as magnets for a reversal or continue move higher .. I keep things as simple as possible ..
I assume that we're talking Elliott Wave here?
how about a picture and some follow up ??
though I don't understand wave stuff .. at least one of your #s is of interest to me .. thanks for posting ..
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