It has been a sideways market in SPX, with entire June contained by 45-50 point range. Well, that all is about to change in July with high volatility, and bigger swings for second half of the year on Daily Charts as well.
So, how is the Analog doing now?
Broadly speaking, it is still holding up the CIT’s(Change-in-Trend dates) and chart pattern. At least, for all the Bear calling that has existed since the March 6th, 2009 rise, it would have kept you on the right side of the market!
Mid-July is shaping up to be a significant Daily CIT. Both Smartp and the Analog are suggesting the same. The CIT’s are pretty much universal across global markets, price movements can and may differ though and Elliott Wave Structures are in lock-step as well across global markets, whether that be India, England, USA etc.
Here is the updated Analog. Remember, at some point all Analogs do and will snap. But for now it is still on track.