Monday, May 13, 2013
SPX and DJIA scenarios converge
In a post 2 months ago, I wrote that the benchmark index to identify the potential Top of this Cycle is the DJIA and today I am more convinced than ever.
Preferred medium-term scenario: we are in the early stage of wave c minor of (y) intermediate of [Y] Primary.
First Alternate medium-term scenario: we are in the final stage of Alt:3 minor of Alt(c) of [Y] Primary.
SPX is in a corrective mode more complex than DJIA.
Preferred count: we are in wave 3 (or 5) of wave  minuette of a minute of z minor.
First Alternate count: we are in Alt:[c] of Alt:w of z minor.
Therefore, according to my point of view, the main scenarios of these two Indices suggest that the uptrend is not yet over.