S&P 500 ~ Elliott Wave Count ~ 2 September 2013

Monday, September 2, 2013

The last count became void when the market declined below 1657 last week. Just a few days earlier the break above this level triggered the alleged B wave rally.

It looks like the decline from 1709 to 1627 was wave A and that wave B is now underway. Possible targets for this rally are 1669 and 1685.

(link to previous count)

If 1627 breaks, this count becomes void and a subsequent sell-off to below 1600 is likely.