Dow Jones ~ Elliott Wave Count ~ 22 October 2014

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Author: Patrick Eugster

Dow Jones ~ Elliott Wave Count ~ 16 October 2014

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Author: Patrick Eugster

S&P 500 ~ Elliott Wave Count ~ 16 October 2014

The break of 1905 confirmed that the Primary wave that started in 2011 is over. The SPX already lost 200 handles from the top - the biggest decline since 2011.

Below you see my bearish long-term count (I'll post a more bullish one later).

It's possible that we entered a new bear market. However, for now, it's way too early to tell. But even if this is just a correction, I think a decline to the lower trendline is likely.

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Author: Patrick Eugster

S&P 500/Dow Jones ~ 12 October 2014

The Dow and the SPX broke below the lower trendline:

It looks like the trend is down now. I still prefer to see a decline below the August low before turning long-term bearish.

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Author: Patrick Eugster

S&P 500/Dow Jones ~ 8 October 2014

The Dow and the SPX hit the lower trendlines again today:

As long as these trendlines hold, the long-term trend is still up.

If 17140ish and 1984ish break, we should see a rally to the upper trendline again.

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Author: Patrick Eugster

S&P 500/Dow Jones ~ EOD ~ 3 October 2014

The SPX and the Dow hit my target levels yesterday and then started to rally again.

If the Dow breaks 17140ish, we should see a rally to the upper trendline again at 17400ish.

A rally above 1984ish should clear the way for new highs.

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Author: Patrick Eugster

S&P 500 ~ Intraday ~ 1 October 2014

The SPX hit my target at 1944ish:

We could see a at least a short-term rally now.

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Author: Patrick Eugster