Monthly Insights

The virtually unanimous consensus Elliott Wave count is that the decline from the October 2007 high to the March 2009 low was a five-wave pattern. In fact, this count tightens the screw by referring to this pattern as the first wave of a larger five-wave decline. Indeed, under this interpretation it would seem that we are on the verge of a downside acceleration.

To make it clear, we disagree with that count for at least two reasons. First, and foremost, large sections of that 2007-2009 pattern cannot be counted as an impulse wave. Second, there is a case to be made that either the 2007 high or the 2009 low (or both) were not an orthodox benchmark.

S&P 500 with 2007-2009 Wave Structures

The above comments are the opening paragraphs in our just released Monthly Insights. The above chart is but one of many in that document. We expect this to be our last free Monthly Insights as our website and subscription service are soon to be available to our charter members. So far, our indications of interest has been very gratifying. For those of you who haven't "pledged" we look forward to hearing from you soon!

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