Below is what I wrote back on August 22nd 2009.
Firstly you might want to watch this 26 seconds video of really crappy quality (as promised) which demonstrates that Grand Bull Super Cycle that started back in 1973 is still alive and kicking…may be not so much “kicking”, but definitely alive.
Wave 5 span across many years and the only real possibility to print complete cycle took place back in 2000 NASDAQ bubble crash. WA down was completed, WB corrective UP satisfied minimum requirements, BUT… S&P500 set new high in 2007 effectively canceling A-B-C sequence and extending W5 to the top of 2007.
That was history – what is it now?
WA completed yet again, WB is in progress with possible completion of minimum requirements for WB in November 2009. “Possible completion of minimum requirements”…that is the word and not "completion ".
September/October monthly closes might be higher OR lower than August close, but as long as November's close will be the highest of 8 months - bingo - we got WB printed.
Here is an updated SPX Monthly video – I guess we have to take it “2 months at a time”
Daily Range Projections for Oct 21st 2009
10/21/2009
Futures approx. BO
Daily Range Projection
Low
High
/ES
1077
1093.75
SPX
1082.27
1094.83
/NQ
1751
1780.75
NDX
1740.55
1761.46
