About six months ago we posted a projection for the remainder of the bull market using OEW analysis and the current bull market characteristics. At the time of the projection the SPX had closed at 1149 that friday September 24th: https://caldaro.wordpress.com/2010/09/26/spx-bull-market-projection/.
We anticipated, at the time, the current uptrend from July10 and SPX 1011 would last six months until Jan11 and reach SPX 1313. Then the following downtrend would take one month to unfold and decline 9%.
The uptrend outperformed our expectations. That uptrend lasted seven months until Feb11 and reached SPX 1344. It extended into the longest uptrend of the bull market, and oddly enough, ended in between two OEW pivots: 1313 and 1363. The downtrend that followed did take one month to Mar11, but the correction was only 7%. Again better than expected. As a result of the the recent market action we are updating our projection going forward: project, monitor and adjust:
SPX 1440/62 Jun11 Major wave 3, SPX 1363 Jly11 Major wave 4
SPX 1552/56 Oct11 Major wave 5, SPX 1363 Dec11 Primary wave IV
SPX 1576 Feb12 Primary wave V.
You can track the SPX along with us using the following link: http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1606987. Best to your trading/investing.