sp 500 elliott wave analysis - december 23, 2010

this video is an elliott wave analysis of the sp 500 (spx) for the 23rd of december 2010. well it looks like santa showed up to the party after all! last week the chances of a santa claus rally looked very slim... but it did come. basically the move off the 1172 low extended with an X wave to allow for this santa rally to happen and now we are in a topping process between the range of 1230 to 1265. once this topping process finishes, we should see a down leg going into february, after which a final rally should unfold going into the march / april 2011 period. it is at this point when the bull run from march 2009 should end and we should start a new bear market.

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[tradeyourwayout]

@ukulelectric 05, 06, 07, 08 there was no rally. we traded either flat or down in those years.

[ukulelectric]

There will always be a Santa Claus Rally because so many people in the financial services industry have bonuses that are stock-price related