If A is in at 95 points, then a C wave, similar to A, would take us to 1500 if we find support at 1405. A carefully controlled B-wave correction -- a thin little channel, no scary giant red candles -- could do that for us by Friday close.
A final top @1500 is then possible with exciting news from the solons in Washington D.C. over the weekend, plus some short-covering, plus the holiday low-volume HFT march up up up.
I remain fascinated with the idea of a 2007-2009 replay in the markets for the coming months. I'll do my homework on this and post the analysis tonight or tomorrow.
|SPX 12-13 a.m.|
The 1Y chart gives a better idea of what a blow-off top into EOY 2012 would look like. You can also see the inverse head & shoulders from SPX 1343.