S&P 500 Bull's herd needs a break

        Please Bulls, don't offend because of the title, I am medium term Bull too. 
I can put my hand at my heart and say -this top is not P2 or B yet. 
        In March 24. 2010 I made diffident try to mix EWTheory & Gann Theory, and it was very close-1 day and 2.94 pts, as I mentioned taking the bottom made in Feb 05.2010 only. Then I also painted potential triangle for the next few months before the final bullish push. Probably it could be a different formation-corrective as well.
      Yesterday I made few more calculations. This time I took the Mar25.2010 and 1180.40 as a potential top, and got some results as dates and price levels. These levels perfectly fit to the Fibonacci -38.2% and 50.0% of the potential (a)  wave of the last "zig zag", which we should see next months. To tell you the truth, I am really curious to see the results. Can you imagine how powerful market weapon could be constructed, combining both theories? 

     P.S.- The green vertical lines are dates in April.

EUR/USD -Did the P.I.G.S. sink the EUR ?

            As you know, the Ewaves are usually aroused by the social mood. That inaugurate events in the world, and when the EUR down  trend began, still nobody was talking about fiscal problems in Greece, Portugal and other European countries. We still don’t know if these problems will end next weeks or not, but the pair EUR/USD very soon will complete very clear 5 waves downward, which are built for nearly five months. It was very serious decline due to hmmm....Do you think the P.I.G.S did it?  

          5 complete waves means, that the EUR is going to be kicked out by the green old buck for deeper retrace very soon. 

        See the current labeling I did: Technically two weeks ago I was doubting about the (V)th wave could happen (the current (iV) wave was labeled in my chart as "leading diagonal" of potential (a)  corrective wave). So, that (V) is already underway and I relabeled my count.

I have enclosed the whole data  I've got, and as you see the grand channel (since 1971) still holds the price between the lines. 

The potential target looks like 1EUR= 1$

SPX 500 Very short term

    Today I made time and price calculations about SP-500. These very short term calculations were based on the GANN Theory  mainly and the EWP. My last few months dream is a combination between the EWP and the GANN Theory. I have tried many times before, but hopeless. Gann is very difficult( for me) to be understood. The calculation pointed price 1177.75 or 1187.58,which is at 360 degrees angle and date -03/26/2010  or the day before or after that date as a reversal time point.
                 I know, that many of the EW followers will say- tell us something we don't know! Yes,but that was according to the GANN Theory only, taking  the 02/05/2010 -1044.50 bottom ONLY.

AMD - Elliott Wave Analysis

                On daily base the well known US company AMD probably has made a potential historical bottom ($1.63) in November 2008. Since then I can count only impulse waves – Probably we are in ii of I of 1 of (1) waves, which means, that if that count is correct we can see the most mighty, bullish extension since Nov2008 bottom.

              I suspect a “flat” correction underway, which looks unfinished. Probably reaching $ 7.92- $ 8.10 resistance is going to look better. After completing that potential “flat”, and that resistance level hold the price, I will have the reason to expect bounce up for iiith wave of Ist wave of a 1st wave of a (1)st wave. Yes I know that looks little complicated.

            So, if the price action doesn’t “obey” to my desire and dip lower, then we should see closing the gap $6.17-$ 5.35 and testing the $ 5.31 support level, which will be the key level for the further price exit. If that level find support among the bears -AMD is in a BIG TROUBLE.

According to the data base we have, and calculations can be pointed the first target of a new potential, tight bull trend-$ 16.90.

$ 9.75 is a good conservative buy level.

Weekly base

SPX - Some thoughts

That is the best count  I can suggest about the grand picture. The look to DJIA similar as well.

 The price is getting weak and diverging  according to MACD and few more technical indicators on 4 hour base. Sometimes, when the wave structure is difficult to recognize I use technical indicators mainly, until the picture gets more clear.

On daily base, I really don't know what is the next formation type- (contracting triangle, expanding triangle, flat or any complex), but I am sure, it we will be a great challenge for the traders. Now the price will need  longer time (few months) to have a break before the final bullish push. 

Probably some of you are thinking  that I am talking  nonsense about bull markets and such stories. In December 2009, when I noticed something rotten in the bearish case the bulls were very few.

Some of the EWP followers are on the way to screw up the real meaning of the Elliott Wave Principle. These guys were calling and believing in the EWI crash wave 3 and "going all in" are not respecting the price action. 

 Yes, the bull market is a fact. I can't count any impulse up at all, but however, the market is up.

Let the force be with you :)