a chart for all who dare, page-3

Nasa

As requested,I for one don't follow the Elliot Wave theory. I follow a few gurus on the net who chart the SPX but at times they contradict themselves and each other but always good for a guide, so not a real fan myself.

The chart below displays the WEEKLY macd indicator. As you can see the indicator and the stock tops out once the indicator reaches into the 70 zone "overbought".
Are we there yet :) not quite but most probably this week or next to the first target and a little longer if we continue as we did in September 09.

The final move "could" be the explosive move to top it off, so in that case hold onto you hat :) time will tell.

And just to add another point, if you look at the trend line on the weekly rsi indicator which has had 3 touches and has caught this entire move from the low. Until the trendline is penetrated to the downside this move is still in play, so there fore it could go for months similar to the down slope of the trenline from the start of the GFC.

Hope this helps, goodluck.