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Attention Goldtenters…This is one of the most proficient Elliott Wave Technicians in my experience as a trader. I do not like using EW for the short term charts. However, I followed PUG several years ago when everyone was bearish on the SPX and he was bullish and correct.
Well boyz follow what ever indicators you’ve used these past years to keep you on the correct side of the trend and see where such a prediction takes us.
Ties in perfectly with Armstrong’s call of a possible 100% parabolic rise in US equities over the next couple years, after a correction, not nowhere near as deep as the EW chart.
S&P500 since gold’s top:
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=4&mn=0&dy=0&id=p87565935917&a=409726948&listNum=1
Ponies are currently Bullish:
http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=1&mn=0&dy=0&id=p89626982318&listNum=1&a=413608827
I’ll be watching the VIX with an Eagles eye…….CHEER$!
PUG Rocks!!!
This is only the 3rd time over the past 8 months that the VIX has broken down into the 11’s (early Dec & late May), both of the other instances marked the low in the VIX. Also, this is the first time since early Dec that the VIX has noticeably pierced the lower BB.
The set up exists for a spike in the VIX…